Mainland equities rallied over 2 percent on Wednesday after China's dismal trade figures spurred hopes that the People's Bank of China (PBOC) may ease policy in order to boost economic growth.
Meanwhile, the rest of Asian stocks trimmed earlier gains on concerns about a slowdown in Beijing. Australia's S&P ASX 200 fell off its five-week high, while Japan's benchmark Nikkei and Seoul's Kospi index inched down 0.4 percent each.
Chinese exports for the month of June fell 3.1 percent from a year earlier, the first decline since January 2012 and sharply lower than a Reuters forecast for a 4 percent rise. Meanwhile, imports came in 0.7 percent lower, well-off from expectations for an 8 percent gain.
"My base line is that there is no export growth in China this year, at least until we see a pick from the G3 economies begin to materialize," said Tim Condon, head of research for Asia with ING Financial Markets.