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Hong Kong - Asian markets sank on Wednesday, taking their lead from another sell-off on Wall Street, while Tokyo took a hit as the yen climbed against the dollar with profit-takers moving in following last week's greenback rally.
Despite a small pick-up on Tuesday, regional markets followed Wall Street's cues in the wake of the weekend's worse-than-expected trade and inflation data from China and a downward revision to Japanese economic growth in 2013.
Tokyo tumbled 2.59%, or 393.72 points to finish at 14 830.39 and Sydney fell 0.55%, or 29.6 points, to 5 384.2 while Seoul shed 1.60%, or 31.33 points, to 1,932.54.
Shanghai ended down 0.17%, or 3.47 points, at 1 997.69 and Hong Kong fell 1.65%, or 367.66 points to 21 901.95.
With few catalysts to drive business, trade was thin, causing choppiness, dealers said - while focus turned to the Federal Reserve's next policy meeting next week.
Global shares were sent tumbling after Beijing said Saturday it had seen an unexpected trade deficit of $22.98bn in February.
The figure compared with a surplus of $14.8bn in the same month last year, and a median forecast of an $11.9bn surplus. Exports fell 18.1% and imports jumped 10.1%.
The data add to growing worries about the Chinese economy, with the latest surveys on the key manufacturing sector showing weakness.
Matthew Sherwood, head of investment market research at Perpetual in Sydney, said: "China has gone from being one of the saviours of the world to one of its weakest links."
China is due Thursday to release data on industrial output and retail sales.
A lack of guidance from the Bank of Japan on its plans for monetary policy also disappointed on Tuesday, giving traders few buying incentives.
"The lack of participants is showing what happens when there is also a lack of trading cues or a negative factors - volatility kicks up," Sumitomo Mitsui Banking strategist Daisuke Uno told Dow Jones Newswires. "The market is up one day, down the next... there is no direction."
On Wall Street the Dow slipped 0.41 percent, the S&P 500 shed 0.51 percent and the Nasdaq lost 0.63 percent, its fourth loss in as many sessions.
The Nikkei in Japan came under pressure from a pick-up in the yen, which hurts the country's exporters.
The greenback stood at 102.90 yen, falling from 102.94 yen in New York and well down from the 103.30 yen seen in Tokyo Tuesday.
And the euro was 142.52 yen from 142.73 yen in US trade, also sharply lower than 143.30 yen earlier Tuesday in Asia.
Both the dollar and euro slumped against the yen last Monday in response to the unfolding Ukraine crisis, before rallying towards to end of the week as leaders from Russia and the West began talks.
The single currency was also at $1.3847 against $1.3863.
Oil prices slipped. New York's main contract, West Texas Intermediate for April delivery, dipped 86 cents to $99.17 in afternoon trade, and Brent North Sea crude for April eased 72 cents to $107.83.
Gold fetched $1 356.38 an ounce at 10:50 GMT compared with $1 348.55 late Tuesday.
