Asian shares slid on Wednesday, giving up small gains made the preceding day as investors endeavored to come to terms with a sharp shift in U.S. bond markets and the implications for the world’s top economy.

MSCI’s widest index of Asia-Pacific shares outside Japan eased 0.1 percent while Japan’s Nikkei average lost 0.6 percent.

Chinese stocks opposed the trend, with the benchmark Shanghai Composite pick up 0.6 percent, the blue-chip CSI 300 rising 1.1 percent, and Hong Kong's Hang Seng advancing 0.5 percent.

U.S. stock’s main indexes tallied solid gains but finished lower their session highs in a reflection of the underlying worries about the financial outlook.

The S&P increased 0.72 percent while the NASDAQ Composite added 0.71 percent.

The 10-year U.S. Treasuries output edged to as high as 2.432 percent from Mondays’ 15-month low of 2.377 percent, though the yield curve stayed inverted, with three-month bills yielding 2.461 percent, more than 10-year bonds.

"While the markets now got out of the extreme nervousness about the U.S. yield curve, there is no denying that U.S. data has been soft of late, hardly dispelling worries about the outlook," said Hirokazu Kabeya, chief global strategist at Daiwa Securities.

Home building tumbled more than expected in February as construction of single-family homes plunged close to a two-year low while the consumer confidence index by the Conference Board dropped suddenly.