Nikkei adds 0.2%
Japan's Nikkei 225 index rebounded into positive territory late afternoon, hovering near the 15-year closing high of 19,754 attained on Monday.
Profit-taking weighed on shares of Eisai, which lost 5.4 percent after having rocketed nearly 30 percent over the past two sessions. The drugmaker's stock has been supported by hopes that its drug can treat Alzheimer's disease.
NTT Docomo sagged over 1 percent after the Reserve Bank of India ruled out Tata Sons' proposal to pay a price higher than "'fair value" to buy out the Japanese telecom giant's stake in their joint venture.
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Australia's S&P ASX 200 finished near the flatline, with the country's big four lenders offering some support after the central bank voiced confidence in tighter home loan standards.
National Australia Bank, Westpac and Australia & New Zealand Banking Group gained 0.81 percent, respectively, while Commonwealth Bank of Australia settled 0.9 percent higher.
"All four major banks are enjoying good operating conditions... with a modest recovery in credit growth and business credit growth is improving, albeit modestly from low levels. Credit quality continues to improve in Australia and we expect that to last for another 18 months," David Ellis, head of Australian Banking Research at Morningstar, told CNBC's "The Rundown."
However, declines in the energy sector and major miners limited the bourse's advances. Oil Search and Santos dropped 1 and 0.7 percent each, while BHP Billiton and Rio Tinto shed 0.4 and 0.9 percent, respectively. Fortescue Metals leaped 1.5 percent, seemingly unaffected by news that the country's competition watchdog has asked chairman Andrew Forrest to explain his call for global miners to join him in capping iron ore production.