Asian markets closed mixed on Thursday as investors digested remarks from Federal Reserve Chair Janet Yellen and oil remained volatile.
Hong Kong's Hang Seng index, which resumed trading today after being shut from Monday through Wednesday for the Lunar New Year holiday, fell 742.37 points, or 3.85 percent, to 18,545.80, hovering at levels not seen since the second quarter of 2012.
In South Korea, the Kospi re-opened lower after its three-day holiday, and finished the session down 56.25 points, or 2.93 percent, at 1,861.54, with blue chip stocks such as Samsung Electronics and Posco closing down 2.92 and 2.49 percent, respectively.
Down Under, the S&P/ASX 200 see-sawed between positive and negative territory before finishing up 45.20 points, or 0.95 percent, at 4,821.10. The index closed Wednesday down 20.17 percent from its 52-week closing high, set in April 2015.
Shane Oliver, head of investment strategy and chief economist at AMP Capital, said in a note that "global growth worries could drive more short term weakness, [but] in the absence of a U.S./global recession it's hard to see a deep and long bear market."
Japanese shares got a respite from their sell-off; markets in Japan are closed for the National Foundation Day holiday.
The Nikkei 225 has been on a downward track in recent days, as the yen rapidly strengthened against the dollar. As of Wednesday's close, the index had ended in the red for six of the past seven sessions, and was down 24.70 percent from its 52-week high set in June 2015.
Mainland Chinese markets and Taiwan will resume trade next week.