In Japan, shares of conglomerate Softbank declined by 4.83 percent while Nintendo dropped 5.68 percent.
South Korea's Samsung Electronics and SK Hynix also fell on the back of a report from the Financial Times that Chinese authorities have alleged "massive evidence" of antitrust violations by the two chipmakers and Micron Technology. The report also said China would deepen its investigation into the three companies, which are the largest memory-chip manufacturers in the world.
On Tuesday, Samsung's stock declined by 1.95 percent while SK Hynix saw losses of 3.30 percent.
In Hong Kong, shares of Chinese tech behemoth Tencent fell 3.30 percent. Electronics maker Xiaomi bucked the trend — its stock surged 8.38 percent after the company reported that it had swung to a net profit in the third quarter.
— CNBC's Michael Sheetz and Reuters contributed to this report.
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