Asian shares mostly lower after Wall St losses

Asian markets mostly fell on Thursday, taking a lead from Wall Street, while Japanese traders are sitting back ahead of the corporate earnings season. Investors are keeping an eye on US President Barack Obama’s visit to Japan, hoping he will mention some progress on talks over a stalled Pacific-wide trade pact. Tokyo eased 0.44 per cent by the break, Shanghai dipped 0.27%, Seoul was 0.10% off and Hong Kong was flat, while Sydney added 0.13%. US shares dipped on Wednesday following a report showing sales of new homes unexpectedly plunged 14.5% in March from February, reinforcing a picture of a weakening housing market. Adding to the downward pressure was a touch of profit-taking after recent gains as well as some poor earnings releases, including from telecom giant AT&T and biotech firm Amgen. Investors are also keen to see some movement on talks between the US and Japan on the Trans-Pacific Partnership, which has run into difficulties over the countries’ stand on auto and agricultural market access issues, according to AFP.