Asian Markets Slip Amid Global Rebound and Dollar Drop

Asian shares slipped as global markets paused amid economic data anticipation. The dollar and bond yields fell, expecting U.S. interest rate cuts. The S&P 500 ended its eight-session gains, and Hong Kong's Hang Seng dropped due to Walmart's share sale in JD.com. Gold and euro rose as U.S. futures pointed a modest increase.

Asian shares experienced a dip on Wednesday as the global rebound in stocks took a breath. Bond yields and the dollar also fell, with the market awaiting U.S. economic data and policy speeches predicting interest rate cuts. The S&P 500 ended its streak of eight gains, dropping 0.2% overnight, as MSCI's index of Asia-Pacific shares outside Japan declined by 0.5%. U.S. and European futures indicated a slight recovery, each drifting about 0.2% higher.

Hong Kong's Hang Seng faced a 1% drop, influenced by JD.com's 10% slump after Walmart decided to sell its large stake. Japan's Nikkei initially fell 1%, struggling near the 38,000 level, but recovered slightly to a 0.3% loss by the afternoon.

Analyst Moh Siong Sim of the Bank of Singapore noted that the market's correction and renewed hopes for a soft landing await validation from forthcoming data. Preliminary U.S. labor data and updates from the Federal Reserve are expected to support the case for interest rate cuts. The weakening dollar propelled gold to record highs and boosted the yen and euro, while commodity prices stabilized amid market responses to China's property market measures.

(With inputs from agencies.)