Asian shares were hesitant on Wednesday on concerns the Federal Reserve could signal a slower path of rate cuts this year, while the yen plumbed a fresh four-month low on expectations that policy in Japan will remain accommodative for a while longer.

Tokyo's Nikkei, is closed for a holiday in Japan, but the yen's weakness lifted Nikkei futures by 0.6%, a day after the Bank of Japan ended years of negative interest rates in a well-telegraphed move.

MSCI's broadest index of Asia-Pacific shares outside Japan, eked out a gain of 0.2%. Australia's resources heavy shares, was 0.3% higher, while China's blue chips, slipped 0.2% and Hong Kong's Hang Seng index, fell 0.5%.

China's central bank left its benchmark lending rates unchanged on Wednesday, as widely expected.

The dollar gained 0.2% to 151.16 yen, a fresh four-month high, and moved closer to the 152 level that prompted Japanese authorities to intervene to stem the currency's slide in late 2022. It slumped about 1.1% overnight.

Source : Reuters