Asia markets stumbled on Friday, the final trading day of the quarter, after concerns over Deutsche Bank undermined investor sentiment.
The Nikkei 225 Index dumped 243.87 points, or 1.5%, to 16,449.84,
In Hong Kong, the Hang Seng index plummeted 442.32 points, or 1.9%, to 23,297.15
Banking shares in Asia were lower, likely due to growing concerns over the German lender's fate.
Japanese banking stocks slid, with Mitsubishi UFJ down 2.1%, SMFG lower by 1.5%, and Mizuho down 2.2%.
The decline in Japanese banks was also likely influenced by concerns that the Bank of Japan would further cut deposit rates into negative territory to achieve their inflation target in light of Friday's weak inflation data. Negative interest rates adversely affect banks' profit margins.
Before markets opened, government data showed Japan's core consumer price index, which excludes fresh food prices, fell 0.5% on-year, slightly more than the 0.4% decline forecast by a poll of economists. The so-called core-core price index, which excludes fresh food and energy prices, was up 0.2% on-year.
The yen traded at 100.88 against the U.S. dollar, a touch lower than an earlier session high of 100.73 and easing from its last close at 101.01.
The relative weakness saw Japanese export stocks pare some of their losses, but they were still firmly negative. Toyota shares closed down 2%, Nissan was down 2.1% and Sony shares fell 2.7%
Hong Kong-listed shares of Standard Chartered were down 2.2%, while HSBC shares fell 1.6% in afternoon trade.
Australian markets tottered, with most sectors finishing lower. The heavily-weighted financial sector slipped 1% as major Australian banks sold off, likely due to concerns over the impact of the German lender on the global banking sector.
In Australia, the so-called Big Four banks fell, with ANZ down 0.7%, Commonwealth Bank of Australia off 1.5%, Westpacshares declined 1.4% and the National Australia Bank was lower by 1%
The Australian dollar, which climbed as high as $0.7710 U.S. in the previous session, retreated back to the $0.76 handle; as of late afternoon, the Aussie traded at $0.7608 U.S.
In other markets
In Shanghai, the CSI 300 gained 8.89 points, or 0.3%, to 3,253.28
The Straits Times Index in Singapore slid 16.24 points, or 0.6%, to 2,869.47
In Taiwan, the Taiex Index swooned 104.05 points, or 1.1%, to 9,166.85
The Kospi index in Korea moved lower 25.09 points, or 1.2%, to 2,043.63
In New Zealand, the NZX 50 added 17.64 points, or 0.2%, to 7,361.09
In Australia, the ASX 200 subtracted 35.34 points, or 0.7%, to 5,435.92
