Following news that iPhone sales had decreased in China, Asia-Pacific markets saw a general decline on Wednesday, reflecting a tech sell-off on Wall Street spearheaded by Apple.

In U.S. trade, Apple shares fell about 3% following a Counterpoint Research indicating a sharp decline in iPhone sales in China during the first half of 2024. Investors kept an eye on the shares of South Korean and Taiwanese suppliers to Apple.

The weighted index for Taiwan Retreated from a record high in the previous session, the market saw a little decline in shares of Hon Hai and Taiwan Semiconductor Manufacturing Company, which dipped 0.5% and 1.3%, respectively.

Samsung Electronics' stock dropped 1%, and the larger Kospi in South Korea declined 0.25%. Kosdaq small cap was up 0.49%.

The announcement comes after China's "Two Sessions" conference on Tuesday saw the government set its economic growth target at "around 5%" for 2024, sending the CSI 300 index to over three-month highs

China's CSI 300 index fell 0.18%, but Hong Kong's Hang Seng index recovered from Tuesday's losses to increase 0.26%.

The broad-based Topix increased by 0.1%, but Japan's Nikkei 225 fell by 0.37%, closing below the 40,000 barrier.

Australia's economy increased faster than anticipated in the fourth quarter, with the gross domestic product rising 1.5% year over year, compared with the 1.4% increase predicted in a Reuters poll. Nevertheless, the S&P/ASX 200 fell 0.28%.