Sony rose nearly 3 percent after activist investor Daniel Loeb told CNBC overnight that he maintains a good relationship with the tech giant.
Sydney 1.4% lower
Australia's benchmark index ended at a four-week low thanks to sharp declines in financials. Australia and New Zealand Banking, Commonwealth Bank of Australia and National Australia Bank skidded over 2 percent each
Warrnambool Cheese rallied 6.5 percent after Murray Goulburn Co-operative raised its takeover offer for the dairy firm.
In earnings news, building products firm CSR shot up 9 percent after reporting that its first-half net profit almost tripled. Retailer Myer Holdings jumped over 2 percent after announcing a 0.4 percent rise in first-quarter sales.
Seoul slips 1.4%
Data showing that offshore investors were net sellers for a seventh straight session on Tuesday damped sentiment in South Korea, leading the Kospi index to a new two-month low.
Investors booked profits on large-cap stocks that have rallied in recent session. Index heavyweight Samsung Electronics fell 2.5 percent following the firm's 2 percent rally on Tuesday while LG Display slipped 2 percent.
Amid emerging markets, Indonesia's Jakarta Composite fell 1.8 percent while Indian shares followed suit and finished 0.4 percent lower.
— By CNBC.com's Nyshka Chandran. Follow her on Twitter