HONG KONG : Asian shares hovered just off six-week highs on Wednesday, as a more risk-averse mood spread into the market from the United States overnight due to worries about slowing growth that hurt equities while helping the dollar firm.
Most other moves were muted in early trading. Australia slipped 0.32per cent, Chinese blue chips fell 0.04per cent, and the Hong Kong benchmark gained 0.12per cent. "This, coupled with the region's much lower vaccination rate, could lead to a continued cycle of lockdown and releases."Overnight the MSCI world equity index retreated from a record high after seven consecutive days of gains.
The Dow Jones Industrial Average and S&P 500 fell 0.76per cent and 0.34per cent while the Nasdaq Composite climbed 0.07per cent to another record close as investors switched out of cyclicals into blue-chip tech stocks.