According to Yonhap, RTHK and HKET, Japan's Nikkei 225 closed down 993.60 points, or 1.42%, at 69,042.11, ending at its intraday low and falling for a second straight session. SoftBank Group fell 4.28%, Tokyo Electron declined 2.48% and Advantest slipped 0.87%. Fast Retailing reported a 25% rise in full-year profit to 542.5 billion yen.

Seoul's KOSPI opened 0.07% higher before turning lower to close down 177.97 points, or 2.62%, at 6,625.93, extending losses to a third consecutive session as elevated oil prices stoked inflation worries and the U.S. Federal Reserve signaled it may need to raise rates this year. Institutions and foreigners sold a net 1.67 trillion won and 1.99 trillion won of shares, respectively. Tech stocks led the decline: Samsung Electronics fell 2.42% to 262,000 won and SK hynix declined 2.44% to 1.68 million won, while Hanwha Aerospace dropped 8.33%. LG Energy Solution rose 2.56%. Samsung earlier estimated third-quarter operating profit at 107.4 trillion won.

Hong Kong's Hang Seng Index fell 344.71 points, or 1.43%, to close at 23,785.79, slipping below 24,000, while the Hang Seng TECH Index lost 2.9% to 4,073. Turnover rose to HK$207.26 billion. Financials came under pressure, with HSBC down 4.87% and Standard Chartered down 5.22%. Lenovo fell 8.08%, SMIC 6.73%, Hua Hong Semiconductor 9.21%, MiniMax 13.74%, Zhipu 7.61% and Tencent 2.19%.

Taiwan's TAIEX closed at 49,313.44 ahead of the National Day long weekend, down 492.93 points, or 0.99%, on turnover of NT$869.697 billion. TSMC closed at NT$2,550, down 1.35%, and MediaTek fell 3.00%. Foreign investors sold a net NT$75.8 billion, and the three major institutional investor groups sold a net NT$89.895 billion combined. Formosa Plastics bucked the trend, rising 7.82%.

In mainland China, stocks reopened after the National Day Golden Week holiday, with the Shanghai Composite Index closing down 30.29 points, or 0.79%, at 3,811.90, its lowest close in more than two months. The Shenzhen Component Index fell about 2.1% to 12,620, the ChiNext Index dropped more than 3.1% to 3,036, and the CSI 300 lost 1.09% to 4,310.28.