Asia stocks opened mostly in positive territory on Wednesday even as global growth concerns and weak U.S. economic data weighed on Wall Street overnight.
Hong Kong's, Shanghai's and China's CSI300 indexes opened marginally higher while Japan's Nikkei share average was down 0.18 per cent. "The Fed's problem right now is that plenty of soft indicators and surveys are pointing to a slowdown," Steve Englander of Standard Chartered Bank said. New home sales in the U.S. fell 16.6 per cent month-on-month in April, the largest decline in nine years, sending U.S. Treasuries yields down to one-month lows as investors turned once again to safety. The benchmark 10-year note was at 2.768 per cent and the two-year yield fell to 2.464 per cent, the lowest since April 19, before rising back to 2.483 per cent.