Asian equities extended losses into a third session on Wednesday following a selloff on Wall Street overnight and steady Chinese inflation data.
Consumer prices in the mainland rose an annual 2.3 percent last month, versus estimates for a 2.4 percent rise and softer than May's 2.5 percent rise. Producer prices meanwhile, declined an annual 1.1 percent, falling for the 27th straight month.
"While inflation is well controlled in 2014, it has much less salience for macro policy than in years past. Inflation is no longer the binding constraint on credit growth; instead, financial stability risk is," said Bill Adams, senior international economist for PNC Financial Services.