Shares in Asia were mostly lower on the first trading day of 2019, on the back of a turbulent 2018 that saw most major global stock exchanges end the year with significant losses.
The ASX 200 in Australia ended its trading day lower by 1.57 percent at 5,557.80. The heavily-weighted financial subindex fell 2.01 percent as shares of the so-called Big Four banks Down Under declined. Australia and New Zealand Banking Group dropped 2.45 percent, Commonwealth Bank of Australia slipped 1.96 percent, Westpac declined by 2.24 percent and National Australia Bank shed 1.83 percent.
The Japanese stock markets were closed for a public holiday on Wednesday.
One investor warned that 2019 could be a "continuation" of 2018.
"We expect to see a lot more volatility to continue to plague markets, at least in the foreseeable future," Ken Wong, Asia equity portfolio specialist at Eastspring Investments, told CNBC's "Street Signs" on Wednesday.
"You do have a lot of uncertainty still over geopolitical noise that's going on. You have earnings gradually slowing down a bit and so, as a result, you know, you're not seeing a lot of ... positive sentiment and good vibes in the market place," Wong said.