China Shanghai Composite index end marginally higher

Asian stocks followed Wall Street lower on Wednesday as risk aversion gripped financial markets on the back of rising bond yields and U.S. President Donald Trump's renewed push to acquire Greenland.

Spot gold jumped nearly 2 percent to touch a new record high above $4,800 an ounce in Asian trade after the U.S. dollar suffered its biggest fall in over a month overnight on fears of offshore selling of U.S. assets - the so-called "Sell America" trade.

Oil prices fell more than 1 percent on persistent concerns about global oversupply and receding risks from Kazakh production halt.

China's Shanghai Composite index finished marginally higher at 4,116.94 after a choppy session. Hong Kong's Hang Seng index ended up 0.37 percent at 26,585.06, extending losses for a fifth consecutive session.

 

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