Chinese shares were fallen as its central bank again devalued the yuan, following Tuesday's record cut.
The People's Bank of China fixed the daily guiding rate for the currency down 1.6% to 6.3306 against the dollar.
The Shanghai Composite fell by 0.4% to 3,911.67 points in early trading while Hong Kong's Hang Seng dropped 1.2% to 24,197.56.
The 2% cut by the national lender on Tuesday sent shockwaves through the global markets.
The surprise decision came along with the announcement that the central bank would in future set the guidance based on overnight global market developments, making it more market-based.
The International Monetary Fund said it was "a welcome step" allowing market forces to have a greater role in determining the exchange rate.
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