Asian markets opened lower as the Japanese Nikkei dropped owing to the Bank of Japan's reluctance to check the volatile domestic bond market, and following the selling of stocks on Wall Street where quantitative easing concerns weighed on the markets.
The Nikkei fell 0.93% or 123.84 points to 13193.78. The Bank of Japan's (BoJ) monetary policy statement on Tuesday made no mention of possible measures to control turbulent bond markets.
Australia's S&P/ASX was down 0.67% or 32 points to 4725.10 after lower commodity prices pulled down mining stocks.
South Korea's Kospi shed 0.43% or 8.25 points to 1912.43.
The mainland Chinese and Hong Kong markets were closed for the Dragon Boat Festival.
On Wall Street, stocks ended lower on 11 June after Japan's central bank letdown markets by keeping its monetary policy unchanged.
The Dow dropped 0.76%, ending at 15,122.02. The S&P 500 shed1.02% to 1,626.13 ,while the Nasdaq Composite shed 1.06% to 3,436.95 at the end of day's trade.
In Tokyo, exporters' stock suffered owing to a fluctuating yen. Shares of Renesas Electronics fell 4.3%, while Sony shed 3%. Automobile makers Toyota Motor and Nissan Motor were down 3.2% each.
Engineering and electronics giant Hitachi's stock was down 0.2% in the morning, after early gains on news that it would supply trains for a light-rail project in Vietnam's Ho Chi Minh City,
Consumer electronics maker Panasonic inched up 0.7% after the Nikkei reported that China's Huawei Technologies plans to double, by value, its procurement of parts from Japanese manufacturers in the coming years. Panasonic, Japan Display and Murata Manufacturing are among Huawei's suppliers.
Financial stocks suffered Wednesday. Shares of Dai-ichi Life Insurance dropped 4.6%, while Resona Holdings fell 4.5%. Daiwa Securities was down 4.2% and Mitsubishi UFJ Financial retreated 3.6%.
In Sydney, Westpac Banking lost 1.7%, Australia & New Zealand Banking Group was down 1.2%, while National Australia shed 1.1%
Shares of iron ore miner Fortescue Metals lost 1.8%, while BHP Billiton shed 0.8%. Gold miner Newcrest Mining lost 1.3% after the firm told Australia's securities exchange that it did not break any share-listing rules related to the timing of its recent restructuring announcement.
In Seoul, consumer electronics giant Samsung shed 0.1% in the afternoon.