Markets in Asia mostly fell on Wednesday, tracking U.S. losses, as uncertainty over central banks' next moves spurred jitters and saw a spike in volatility.
The Nikkei 225 index in Tokyo lost 114.8 points, or 0.7%, to 16,614.24
In Hong Kong, the Hang Seng Index dropped 25.12 points, or 0.1%, to 23,190.64
Japanese banking stocks came under pressure on Wednesday, following the report. Shares of Mitsubishi UFJ sold off 3.2%, Mizuho Financial and SMFG each closed down 1%. Negative interest rates have pressured bank profits.
In company news, shares of Japan's Seiko Holdings fell 6% after the watchmaker cut its profit outlook. Media quoted the company as saying it expected a group net profit of three billion yen in the full fiscal year through March 31, down from its previously projected net profit of 10 billion yen.
The Japanese yen traded at 103.29 against the U.S. dollar, with the Japanese currency down from an earlier session high of 102.40.
Australian markets bucked the trend, however, gaining ground. The energy and materials sectors, however, closed down 1.4% and 0.6% respectively.
Oil plays in the country were lower, with Santos finishing down 5.7%, Oil Search off by 0.9% and Woodside Petroleum losing 0.7%.
Major Australian miners also sold off, with Rio Tinto down 1.3%, Fortescue off 1.7% and BHP Billiton down 1%.
CHINA
The Shanghai CSI 300 moved downward 21.6 points, or 0.7%, to 3,238.73
In other markets
Markets in Korea were shuttered for holiday
The Taiex Index in Taiwan slid 38.53 points, or 0.4%, to 8,902.30
The Straits Times Index in Singapore skidded 9.03 points, or 0.3%, to 2,809.35
In New Zealand, the NZX 50 dropped 38.51 points, or 0.5%, to 7,210.72
The ASX 200 added 19.91 points, or 0.4%, to 5,227.69
