Stocks in Asia declined on Wednesday after an overnight plunge on Wall Street as investors worried about a potential economic slowdown and the state of the U.S.-China trade war.
The mainland Chinese markets, closely watched in relation to Beijing's ongoing dispute with Washington, slipped by the end of their trading day. The Shanghai composite declined 0.61 percent to close at about 2,649.81 and the Shenzhen composite fell 0.484 percent to finish at around 1,380.78.
The Caixin Services Purchasing Managers' Index, which measures economic activity in China's services sector, rose to 53.8 in November — its highest in five months — as compared to 50.8 in October.
Earlier in the day, China's Ministry of Commerce said in a statement on its website that the weekend meeting between Trump and Chinese President Xi Jinping was successful. The ministry also said the two countries will push ahead with negotiations within 90 days, and Beijing will work to address issues agreed upon as quickly as possible.
Meanwhile, the Hang Seng index in Hong Kong also fell by around 1.6 percent as of its final hour of trading. Shares of vehicle maker Baic Motor dropped 10.30 percent following a Bloomberg report that Germany's Daimler is considering increasing its stake in its joint venture with the Chinese firm.