Shanghai markets posted a fourth-straight daily loss after a sell-off across the Chinese banking sector caused the benchmark index to lose over 1 percent.
China Minsheng Bank led losses by 4.7 percent while Hua Xia Bank fell over 3 percent after official media reported the nation's banking regulator launched a nation-wide probe of wealth management products.
Industry group China Association of Automobile Manufacturers (CAAM) reported that auto sales rose over 19 percent in January and February but that didn't spark a much of a reaction in share prices. Great Wall Motor slipped 3.8 percent while Dongfeng Automobile eased 1.6 percent.
The Only Thing Stocks Fear? That No One's Afraid
In Seoul, concerns of a weaker yen offset the benchmark's earlier gains. Exporters have been on a sustained losing streak in recent days as the won struggles to keep up with the yen's rapid pace of depreciation.
The Japanese currency has weakened nearly 9 percent against the Korean won since the start of 2013, giving Japanese exporters greater profitability over Korean counterparts.
"As the yen seems to be edging inextricably higher towards a 100 (against the dollar), I think there is rising angst and that's being reflected in the Korean won being the under performer as far as regional equities are concerned," said Ray Attrill, co-head of foreign exchange strategy at National Australia Bank.