Asian markets shed gains from the previous day in the wake of Wall Street's declines.

Hong Kong's Hang Seng Index dipped 2.2 percent to 23,113.79 and the Hang Seng China Enterprises Index of China-related stocks sank 2.5 percent to 13,219.10.

In Tokyo, the Nikkei 225 Average lost 1.9 percent at 13,423.94, while the broader Topix index declined 1.5 percent to 1,314.44.

Australia's S&P/ASX 200 fell 1.2 percent to 5,515.60, New Zealand's NZX 50 index slipped 0.5 percent to 3,568.45, South Korea's Kospi lost 1.5 percent to 1,678.87, Taiwan's Weighted index gave up 0.4 percent to 8,054.37 and Singapore's Straits Times index fell 1.1 percent to 3,022.59.

China's Shanghai Composite declined 1.8 percent to 4,444.05, taking losses into a third straight session.