Asia shares subdued by tech retreat, US futures steady By Reuters – Investing.com

SourceInvesting.com
SectorFinancial Markets
CountryMiddle east

© Reuters. FILE PHOTO: A man walks past a stock quotation board at a brokerage in Tokyo, Japan February 26, 2021. REUTERS/Kim Kyung-Hoon

By Wayne Cole

SYDNEY (Reuters) – Asian shares risked falling for a fourth straight session on Wednesday as sentiment took a knock from a selloff in large cap Wall Street tech darlings, combined with talk of rising U.S.

interest rates.

Holidays in Japan, China and South Korea limited the early reaction, leaving MSCI’s broadest index of Asia-Pacific shares outside Japan dithering either side of flat.

was shut, but futures traded down at 28,735 compared to the last cash close of 28,812.

Nasdaq futures steadied after a sharp pullback overnight, while inched up 0.1%.

The Nasdaq had dropped 1.9% on Tuesday as some big tech names ran into profit-taking, including Microsoft Corp (NASDAQ:), Alphabet (NASDAQ:) Inc, Apple Inc (NASDAQ:) and Amazon.com Inc (NASDAQ:).

Stretched valuations were tested when U.S. Treasury Secretary Janet Yellen said rate hikes may be needed...read more...