Asian shares slip in cautious trading, shrug off US rally

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Asian shares are slipping in cautious trading Wednesday, shrugging off a rally on Wall Street led by technology companies and banks that erased most of the losses from the previous day’s sell-off. Benchmarks fell in Japan, South Korea, Australia and Hong Kong. Shanghai trading was closed for the Chinese national holidays. Worries remain in Asia about ongoing coronavirus infections, although hopes are growing that economic activity will return closer to normal later this year. The market has been choppy for weeks as investors try to gauge how the economy will continue its recovery with COVID-19.