- Major Asia Pacific markets mostly fell in the afternoon.
- In South Korea, major Apple supplier LG Display as well as Samsung Biologics reported third-quarter earnings.
- Overnight, the sterling was hit by Brexit developments. U.K. lawmakers voted to reject a limited time frame for reviewing legislation related to Britain's withdrawal from the European Union.
Major Asia Pacific markets mostly fell by the close on Wednesday afternoon, as developments on Brexit overnight meant the deadline for the U.K. to leave the EU would likely be delayed again.
Among mainland Chinese stocks, the Shanghai composite was down 0.43% to 2,941.62, while the Shenzhen composite lost 0.79%, closing at 1,618.40.
Hong Kong's Hang Seng index tumbled 0.84% in afternoon trade.
Australia's S&P/ASX 200 closed flat to 6,673.10. Japan's markets reopened after a holiday on Tuesday, with the Nikkei 225 rising 0.34% to close at 22,625.38. Softbank shares tumbled 2.51%, as the Japanese tech giant struck a deal to take over the embattled WeWork.
South Korea's Kospi was down 0.39% to 2,080.62. Major Apple supplier LG Display reported a larger-than-expected quarterly operating loss on Wednesday, as liquid crystal display panel prices fell. It posted a loss of 437 billion won ($372.7 million) for the third quarter, versus a profit of 140 billion won in the same period a year earlier.
Ahead of the report, its stock fell 2.07% by the close.
Samsung Biologics also reported third-quarter earnings. Its operating profit was up 124.7% to 23.6 billion won ($20.13 million) compared to a year ago. Its stock had surged 8.28% by the close, amid anticipation that U.S. drugmaker Biogen may place a manufacturing order for its Alzheimer's treatment.
Over in Singapore, the Straits Times Index was down 0.56% in afternoon trade. Shares of conglomerate Keppel, after surging as much as 16% on Tuesday, maintained investor interest and rose 0.3% on Wednesday afternoon. That followed a surprise $4 billion partial bid by Singapore state investing giant Temasek Holdings earlier this week.
Overall, MSCI's broadest index of Asia-Pacific shares outside Japan was 0.49% lower.
Thailand's markets are closed for a holiday.
Meanwhile, the International Monetary Fund released new projections on Wednesday that showed growth in Asian economies could be slower than expected. It said growth in Asia could moderate to 5% in 2019, and 5.1% in 2020 — that's 0.4% and 0.3% lower than its April projections.
Overnight, the sterling was hit by Brexit developments. U.K. lawmakers voted to reject a limited time frame for reviewing legislation related to Britain's withdrawal from the European Union. It now means that the U.K. is almost certainly not going to leave the U.K. on October 31— the current deadline, and the EU may provide an extension to prevent a no-deal Brexit occurring.
In reaction, the British pound fell 0.1% versus the dollar. It fell further following the news— last at 1.2881, below the 1.29 level where it had been holding.
"Ahead of the Brexit votes markets were essentially marking time, but reaction to the vote news now sees the pound as the big underperformer, down 0.69% relative to levels this time yesterday. But at 1.2899, is probably fair to say the market remains relatively upbeat on GBP fortunes," said Rodrigo Catril, a senior currency strategist at the National Australia Bank, in a morning note.
On Wall Street, stocks fell as investors digested earnings reports. More than 19% of S&P 500 companies have reported quarterly numbers and of those, nearly 80% have beaten expectations.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.54, sliding from an earlier high of 97.599.
Oil prices, meanwhile, surged higher on reports that Organization of the Petroleum Exporting Countries and its allies could be thinking of cutting production further, according to a Reuters report.
Earlier, Brent crude oil settled 1% higher at $59.59 a barrel, while U.S. West Texas Intermediate crude rose 1.6% to $54.16 per barrel. In the afternoon during Asia hours, some gains were trimmed, with Brent crude falling 0.49% to $59.41, while U.S. crude was down 0.70% to $54.10.