TOKYO stocks have closed 1.04 per cent lower, weighed by a stronger yen and falls in Shanghai fuelled by lingering fears about a Chinese liquidity crisis.
The benchmark Nikkei 225 index on Wednesday lost 135.33 points to 12,834.01, while the Topix index was down 0.87 per cent, or 9.38 points, to 1,069.28.
"Jitters over Chinese banking liquidity continue to rattle investors," said an equity analyst at a foreign brokerage.
China's central bank said it had provided money to some firms on Tuesday to ease a cash crunch that has gripped the country's financial markets and raised concerns about the economy.
The move by People's Bank of China came just a day after it ruled out providing fresh cash and ordered banks to put their financial houses in order.
"Investors are now highly sensitive to risks," Yoshihiro Okumura, general manager for research at Chibagin Asset Management, told Dow Jones Newswires.
"The Nikkei's fall under 13,000 should entice dip-buying, but until Chinese markets stabilise, active buy backs will be limited."
Tokyo stocks had opened 1.41 per cent higher on Wednesday morning following a rally on Wall Street.
The Dow Jones Industrial Average gained 0.69 per cent to 14,760.31, helped by data showing more strength and confidence in the US economy.
New orders for durable goods surged 3.6 per cent in May on the back of strong aircraft sales, and housing prices added a huge 2.5 per cent in one month. Consumer confidence also jumped in May.
The data initially boosted the US dollar past the Y98 mark on Wednesday before it fell back to Y97.45 in mid-afternoon trade.
In Tokyo stock trading, SoftBank jumped shortly after the opening bell, but ended down 0.18 per cent at Y5,420, after shareholders in US mobile carrier Sprint approved a $US21.6 billion ($A23.46 billion) takeover by the Japanese firm.
Electronics maker Sharp also gave up earlier gains to end 3.50 per cent lower at Y386.
Toyota finished up 0.53 per cent at Y5,700 while Sony advanced 1.41 per cent to Y2,001.
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