Investors are betting that measures by the US and G20 will ease the economic impact of the pandemic.Read more
Asian stocks have fallen as worries about the coronavirus pandemic eclipsed hopes that major stimulus plans would ease the impact of the outbreak.
It came after Wall Street's main indexes rebounded by more than 5% on Tuesday following Monday's steep falls.
In the US, the Trump administration outlined a $1 trillion (£830bn) package to support the world's biggest economy. At the same time the UK has revealed details of its own stimulus measures, including £330bn of business loans.
Japan's benchmark Nikkei 225 lost 1.7%, the Hang Seng in Hong was down by 1.9%, and China's Shanghai Composite fell by 0.5%. US stock market futures were also indicating a weaker open for Wall Street.
Global stock markets are seeing record levels of volatility with the five biggest one-day points falls happening in less than a month.
On Monday the Dow Jones Industrial Average saw its biggest one-day slide in more than three decades.
This was the latest huge swing as investors weigh the economic impact of the coronavirus pandemic.
It comes as a key measure of stock market volatility, known as the "Fear Gauge", has surged to a record high.
Stock markets have seen volatile trading as investors weigh the effect of the coronavirus against measures aimed at easing its economic impact.
Share markets across the Asia-Pacific region, including Japan, Australia and India, have experienced major swings. It followed the Dow and S&P 500 in the US having their biggest one-day declines since 1987.
Japan's Nikkei 225 index has swung back from being down by more than 10% in early trading to be around 4% lower.
Australia's benchmark S&P/ASX 200 saw its biggest trading swing on record as it reversed a loss of 8.1% to end the day 4.4% higher.
Trading in India's Nifty 50 stock index was halted for 45 minutes on Friday morning after it fell 10% and hit a "circuit-breaker" only to erase much of those losses after trading resumed.