The dollar extended losses and gold hit a new high above $4.700 an ounce as Trump's tariff threats left investors worried about exposure to U.S. assets. Oil prices traded lower in Asian trade on oversupply worries.

China's Shanghai Composite index finished marginally lower at 4,113.65 as the People's Bank of China left its benchmark loan prime rate unchanged as expected, despite signs of cooling growth and a prolonged debt crisis in the real estate sector.

Hong Kong's Hang Seng index dipped 0.29 percent to 26,487.51, extending losses for a fourth straight session amid the threat of renewed tariff tensions.

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