Asian shares were pressured on Wednesday with investors searching for fresh catalysts such as the Bank of Japan’s policy meeting which ends later in the day, while a sharp boost to asset prices inspired by the US Federal Reserve has given way to worries about Spain’s fiscal strains.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1 per cent, with Australian shares down 0.1 per cent, while South Korean shares eased 0.3 per cent.