Indian shares are set for a subdued start on Wednesday, tracking sluggish Asian equities, as weakness in Chinese stocks and growing trade tensions between the United States and major economies are likely to weigh on sentiment.

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At 0710 India time, SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 0.07 percent at 10,753.

On Tuesday, the BSE Sensex closed lower by 219.25 points, or 0.61 percent, to 35,470.35, while the Nifty 50 fell 59.40 points, or 0.55 percent, to close at 10,762.45.

Globally, Asian shares were mostly muted with MSCI's broadest index of Asia-Pacific shares outside Japan off 0.05 percent after touching a two-year trough on Tuesday.

Markets have been pressured by sharp losses in China, where blue chips were near 13-month lows due to concerns over an economic slowdown and an emerging trade war with the United States.

Confusion still reigned over US trade policy.

The US House of Representatives overwhelmingly passed a bill on Tuesday to tighten foreign investment rules. Yet President Donald Trump also endorsed a measured approach to restricting Chinese investments in US technology companies, saying a strengthened merger security review committee could protect sensitive technologies.

Despite the trade concern, US stocks found their footing on Tuesday, helped by gains in the energy, technology and consumer discretionary sectors.

Energy stocks added the most gains among the S&P 500's 11 major sectors, climbing 1.4 percent as Washington pushed allies to halt imports of Iranian crude.

The Dow Jones Industrial Average rose 30.31 points, or 0.12 percent, to 24,283.11, the S&P 500 gained 5.99 points, or 0.22 percent, to 2,723.06 and the Nasdaq Composite added 29.62 points, or 0.39 percent, to 7,561.63.

(With inputs from Reuters)

First Published:Jun 27, 2018 7:26 AM IST