South Korea's Kospi index was directionless on Wednesday, as blue chips came under pressure.
Samsung Electronics tumbled 2 percent, while Posco and KB Financial Group tanked 2.5 and 1.9 percent, respectively.
Retailer Shinsegae outperformed the bourse with a rise of 7.1 percent, while automakers also provided some support. Hyundai Motor and Kia Motors closed up 1 percent each.
Southeast Asia up
Philippine shares lead gains in this part of the region, rising 0.9 percent, while Thailand's SET index held on to gains of 0.4 percent after the Bank of Thailand left its benchmark one-day repurchase rate unchanged at 1.50 percent.
Indonesia's Jakarta Composite more than doubled gains to 1.2 percent after the country's second-quarter gross domestic product (GDP) beat expectations, albeit modestly. The Southeast Asian economy expanded 4.67 percent on-year in the April-June period, slightly weaker than the 4.7 percent in the first three months of the year but topping expectations for growth of 4.61 percent.
Singapore's Straits Times index hovered near the previous day's close, with shares of property developer CapitaLand shedding 0.3 percent despite delivering a 5.8 percent rise in second-quarter profit.
In the currency space, the Singapore dollar lost 0.3 percent of its value against the greenback and was last seen at 1.3850, its lowest level since March 20.
The Malaysian ringgit and the Indonesian rupiah stayed near 17-year lows.