Asian markets slipped into the red Wednesday, with the exception of the Hang Seng index, paring back the modest gains made in the morning. Japan finished down while South Korea closed over 1 percent lower.
The confidence-boosting news of a $7.5 billion capital injection for Citigroup by Abu Dhabi Investment Authority on Tuesday proved short-lived as investors took profits on the dollar's surge.
Bank stocks that rose the most on the Citigroup deal came under pressure as wary investors locked in gains. Japan's Mitsubishi UFJ and Mizuho Financial both eased, taking a breather after Tuesday's rebound. Citigroup fell over 4 percent in Tokyo, despite a 1.5 percent rise in
its U.S.-listed shares, but South Korea's Shinhan Financial Group and Kookmin Bank both advanced.