Asian Shares Lower On Revived Fed Hike Expectations

Asian shares weakened on Wednesday after strong U.S. inflation data and comments from Federal Reserve officials rekindled prospects of the central bank raising rates later this year.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 percent in early trade

Japan's Nikkei dropped 0.5 percent, failing to sustain its early firmness after Japan's stronger-than-expected annualized 1.7 percent growth in GDP during the January-March quarter.