Over in Seoul, the benchmark Kospi index edged down 0.42 percent to end at 2,499.75. Shares of tech giant Samsung Electronics fell 3.1 percent Wednesday by the end of the session. The stock declined on Tuesday on the back of a weaker-than-expected fourth-quarter profit guidance, prompting concerns about the business outlook for its semiconductor business. Rival memory chip maker SK Hynix tumbled 5.2 percent.
Australia's S&P/ASX 200 shed 0.64 percent to finish at 6,096.7 as most sectors recorded losses. The gold subindex saw the steepest decline, down 2.04 percent, as miners struggled: Newcrest shares fell 2.33 percent, Evolution Mining was down 1.97 percent and Kingsgate tumbled 5.06 percent. Major miners also saw losses on the day, with Rio Tinto closing 0.76 percent lower.
Major banking stocks closed mixed as ANZ shares slipping 0.48 percent and Westpac shares rising 0.16 percent.
Hong Kong's Hang Seng index rose 0.2 percent to close at 31,073.72, its 12th straight session of gains. The index was also less than 900 points away from its all-time high of 31,958.41, which was set in 2007.
The Shanghai composite ended the session higher by 0.24 percent at 3,422.14. Meanwhile, the Shenzhen composite traded down 0.33 percent to end at 1,945.66.
The moves followed price data out of the country: Consumer inflation in China rose 1.8 percent on-year in December, which was a touch lower than the market's expectations, while the producer price index topped predictions to climb 4.9 percent on-year, according to Reuters.
U.S. stocks closed higher on Tuesday in the lead up to earnings season kicking off later this week, with investors positive about the upcoming release of fourth-quarter results. Major U.S. banks, including J.P. Morgan, are set to report on Friday.
The Dow Jones industrial average rose 0.41 percent, or 102.8 points, to close at 25,385.8.