The FTSE CNBC Asia 100 Index [.FTFCNBCA 6279.53 -28.31 (-0.45%)], which measures markets across Asia, fell 0.5 percent.

China shares managed to end up in thin volume, reversing the morning session's falls, underpinned by strength in property shares on prospects of industry consolidation.

The Shanghai Composite [.SSEC 2305.86 20.09 (+0.88%) ] ended up 0.9 percent at 2,305.9 points. The index was down 0.9 percent on Monday. The property sub-index jumped 2 percent.

Hong Kong shares suffered a second straight loss, dragged lower by banks. China Construction Bank [0939.HK 5.96 -0.04 (-0.67%)] lost 0.7 percent and was among the top drags on the Hang Seng Index.  

The Hang Seng Index [.HSI 20356.24    -236.76 (-1.15%) ] closed down 1.15 percent at 20,356.24. The China Enterprises Index [.HSCE 10596.91   -148.00  (-1.38%)] of the top mainland listings in Hong Kong finished down 1.38 percent at 10,596.91.

Japan's Nikkei share average fell for a sixth straight day, if only by 0.1 percent, after the Bank of Japan decided against additional easing measures at its policy meeting.

The yen, which strengthened slightly on the announcement, provided support to exporters that had been heavily sold. Toyota Motor, Honda Motor and Nissan Motor up between 0.5 and 1.5 percent.

Sharp shed 4.3 percent after a Nikkei report said the electronics maker was expected to post a wider net loss for the 2011 fiscal year than previously projected, hurt by poor sales of televisions and solar cells. Separately, a source also told Reuters on Tuesday that Sharp was seeking more partners to buy stakes in its main LCD production facility in western Japan in a bid to spin off the subsidiary.

The benchmark Nikkei [.N225  9538.02    -8.24 (-0.09%)] ended down 8.24 points at 9,538.02, marking its longest losing streak since July 2009. The broader Topix index was off 0.03 percent at 813.43.

Seoul shares reversed early advances to close slightly lower, briefly recovering and then relinquishing the psychologically significant 2,000 point level ahead of a public holiday.

Auto shares underperformed as investors cashed in on recent gains, with Hyundai Motor falling 2.8 percent while Kia Motors shed 2.5 percent.

The Korea Composite Stock Price Index (KOSPI) [.KS11 1994.41   -2.67 (-0.13%)] drifted 0.1 percent lower to close at 1,994.41 points, extending a one-month closing low set in the previous session.

South Korean financial markets will be closed on Wednesday for parliamentary elections.

Australian shares dropped 0.6 percent to a two-week low as slackening Chinese import growth and soft U.S. jobs data renewed worries about a stalling economic recovery.

China is Australia's top trade partner and key consumer of its resources. Data showed Chinese imports grew 5.3 percent from a year ago, far below a 9 percent forecast.

That pushed commodity prices lower on worries about demand outlook for the leading importer of raw materials and hurt mining stocks, the biggest drag on the index. BHP Billiton dropped 0.6 percent, Rio Tinto fell 0.7 percent.

Shares in regional pay-TV firm Austar United Communications bucked the trend to rise after the competition regulator cleared a $2 billion takeover by larger rival Foxtel, after Foxtel agreed to broaden its concessions.

The benchmark S&P/ASX 200 index [AU;XJO  4292.30     -27.60  (-0.64%)] was down 27.7 points at 4,292.1, at its lowest
closing level since March 26. It fell 0.3 percent on Thursday before the long Easter weekend.

New Zealand's benchmark NZX 50 index nudged up 0.2 percent to 3,475.1. points.

In India, the benchmark 30-share BSE index dipped 0.3 percent at 17,166.6 points. While in Southeast Asia, Singapore's STI [.FTSTI 2982.44   22.34  (+0.75%) ]and Malaysia's KLCI [.KLSE 1597.17    5.89 (+0.37%)]both edged 0.3 percent higher.