Indian shares are likely to erase gains from last session and open lower on Wednesday, tracking weakness in Asian peers.

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Asian stocks were on shaky ground on Wednesday while the Chinese yuan stood near 11-month lows as the spectre of a Sino-US trade war haunted investors ahead of an end-of-week deadline for US tariffs on billions of dollars worth of Chinese imports.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent in early trade, a day after it hit a nine-month low. Japan's Nikkei lost 0.5 percent.

Wall Street gave up early gains in a truncated session overnight ahead of the Independence Day holiday on Wednesday, while technology shares came under pressure just a day after their solid start for the quarter on Monday.

The S&P 500 lost 0.49 percent while the Nasdaq Composite dropped 0.86 percent.

The Indian market recovered on Tuesday from opening lows to close largely higher boosted by IT and energy stocks. The Nifty gained 70 points from lows to end 43 points in the green at 10,700, while the Sensex moved 114 points higher to close at 35,379.

(With inputs from Reuters)

First Published:Jul 4, 2018 7:15 AM IST