TOKYO (AP) — Asian shares slipped 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 selloff.

Japan’s benchmark Nikkei 225
NIK,
-1.05%

sank 1% in morning trading to 27,544.06, after opening higher. South Korea’s Kospi
180721,
-1.82%

dipped 1.0% to 2,932.15. Australia’s S&P/ASX 200
ASX,
-0.70%

shed 0.5% to 7,209.40. Hong Kong’s Hang Seng
HSI,
-0.57%

fell nearly 0.9% to 23,899.34,. Trading was closed in Shanghai 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, bouncing back from the deep downturn in 2020.

“On the risks front, China credit…

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