Asian Markets Tumble Amid Dollar and Bond Yield Declines

Asian shares dipped on Wednesday after a robust rebound in global stocks. Bond yields and the dollar declined ahead of U.S. economic reports and policymakers' speeches suggesting potential interest rate cuts. Key highlights include the S&P 500's minor drop, Hang Seng's significant fall, and Japan's Nikkei facing resistance.

Asian shares slipped on Wednesday as a stellar rebound in world stocks paused for breath, while bond yields and the dollar fell ahead of U.S. economic data and speeches from policymakers that are expected to make the case for interest rate cuts.

The S&P 500 snapped eight sessions of gains with a 0.2% overnight drop. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6%. Hong Kong's Hang Seng slumped 1.4% as JD.com dropped 11% following Bloomberg News' report that top shareholder Walmart plans to sell its large stake.

Japan's Nikkei fell 1% at the open, with the recovery from its early August collapse facing resistance at the 38,000 level. More yen gains also dented sentiment. "The sell-off itself has largely corrected, and the recession scare has given way to soft landing hopes again," said Bank of Singapore analyst Moh Siong Sim.

(With inputs from agencies.)