Shanghai stocks fell to a one-week low on Tuesday amid fears that the People's Bank of China would not provide monetary stimulus to support the economy while Asia's other equity markets were mixed ahead of Australia's budget release.
The Shanghai Composite moved off a fresh 2013 low on Thursday after HSBC's Chinese manufacturing survey revealed a drop in new export orders for the first time this year, adding to concerns about the global growth outlook.
Asia's equity markets rose to fresh peaks on Tuesday, fueled by hopes of central bank stimulus but Japanese shares fell, weighed down by mixed economic data.