Asian shares were subdued on Wednesday as initial enthusiasm over the latest U.S.-China trade truce was overtaken by fresh concerns over Washington's threat of tariffs on additional European goods.

Global growth concerns also weighed on investor confidence, with South Korea the latest trade-reliant economy to cut its economic growth and export targets, a day after weaker factory readings worldwide.

MSCI's broadest index of Asia-Pacific shares outside Japan was almost flat, while Japan's Nikkei was down 0.4% in early trade.

U.S. stocks managed modest gains on Tuesday after holding near the unchanged mark for much of the session, with the S&P 500 gaining 0.29% to a record close of 2,972.98, with dividend-oriented utilities and real estate stocks leading the gains.

Source : Reuters