On Wednesday, Asian shares declined in response to a drop on Wall Street, a day after U.S. stocks reached their highest level since the beginning of August.

Tokyo's Nikkei 225 saw a modest increase of 0.3% to 33,450.18, while Seoul's Kospi slipped 0.1% to 2,508.55, according to the Associated Press (AP).

In Hong Kong, the Hang Seng decreased by 0.1% to 17,720.18, and the Shanghai Composite index was down 0.3% to 3,059.16.

Shares of Sunac China Holding rose by 3.8% following reports in state media indicating the completion of a restructuring of its $90 billion in debts.

Australia's S&P/ASX 200 experienced a slight dip of 0.1% to 7,069.50. Share prices also fell in Taiwan and Thailand, while Mumbai's Sensex saw a 0.1% increase.

The S&P 500 declined by 0.2% to 4,538.19, marking its third loss in the last 17 days. The Dow Jones Industrial Average dropped 0.2% to 35,088.29, and the Nasdaq composite decreased by 0.6% to 14,199.98.

Despite reporting improved profits for the latest quarter, Lowe's saw a 3.1% decline in its shares.

In electronic trading on the New York Mercantile Exchange, U.S. benchmark crude oil shed 7 cents to $77.70 per barrel after losing 6 cents on Tuesday.

The international standard, Brent crude, lost 9 cents to $82.36 a barrel.

The U.S. dollar weakened to 148.30 Japanese yen from 148.39 yen late Tuesday, while the euro rose to $1.0914 from $1.0912.