Greater China markets saw sharper losses. In Hong Kong, the Hang Seng Index lost 0.99 percent by 3:05 p.m. HK/SIN, with declines seen across all sectors. The heavily weighted financials sector was down 0.82 percent before the market close. Property developers and energy stocks were also weaker.
On the mainland, the Shanghai composite fell 0.97 percent to 3,049.80. The smaller Shenzhen composite lost 1.58 percent to end at 1,731.43.
Japan's Nikkei 225, however, bucked the trend to edge up by 0.38 percent, finishing the day at 22,966.38. Shippers and real estate stocks led gains for the day, while automakers rose 0.93 percent.
MSCI's broad index of shares in Asia Pacific excluding Japan pulled back by 0.61 percent in Asia afternoon trade.
Markets in South Korea and Indonesia were closed on Wednesday.
Global markets were subdued following Tuesday's meeting between U.S. President Donald Trump and North Korean leader Kim Jong Un. The summit, which took place in Singapore, marked the first ever meeting between sitting leaders of the two nations.
The historic summit culminated in both leaders signing an agreement that pledged to create a lasting "peace regime" on the Korean Peninsula, although the statement was criticized for lacking in detail. Trump also said during a press conference that the U.S. would be halting war games held with South Korea.
"Until there is more meaningful progress, which could ultimately lead to potential alleviation of existing sanctions, we expect the Kospi to remain in this range [of 2,400 to 2,500]. Our base case Kospi remains at 2,600," Morgan Stanley analysts said in a note.