In Asia, Nikkei futures traded lower than the benchmark index’s Tuesday close of 19,677.85; Chicago shed 0.22 percent to trade at 19,635 while Osaka futures were off 0.24 percent at 19,630.

Meanwhile, Australian SPI futures were flat at 5,718 compared to the S&P/ASX 200’s close of 5,717.886.

After the long weekend, Wall Street closed lower on the release of key economic data stateside. The Dow Jones industrial average shed 0.24 percent or 50.81 points to close at 21,029.47, the S&P 500 was lower by 0.12 percent or 2.91 points at 2,412.91 and the Nasdaq was off 0.11 percent or 7.01 points at 6,203.19.

The dollar index traded at 97.401 at 6:25 a.m. HK/SIN. The greenback also ceded ground to the yen, with the dollar/yen trading at 110.83 compared to the 111 handle seen last week.

Brent crude settled 0.9 percent lower at $51.84 a barrel while U.S. crude declined 0.3 percent to settle at $49.66 on worries about the oversupply in oil markets.

In economic news, Japan industrial production data for April is expected at 7:50 a.m. HK/SIN. China manufacturing and non-manufacturing PMI for the month of May is due at 9:00 a.m.

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