Asian equities dragged lower on the day

The Topix also closes lower by 0.6% to 1,898.24 with the 100-day moving average level coming back into focus for both the Nikkei and Topix going into May.

Elsewhere in the region, the Hang Seng is down 1.6% while the Shanghai Composite is down 1.0% as equities slump - not helped by the more subdued tone in US futures.

US stocks may have overcome a stumble midway through yesterday's session but there are still concerns about a short-term peak with the month-end in focus today.