Japan's Nikkei average is seen slipping as concerns over global growth are likely to weigh on sentiment.
The Nikkei ended 184.84 points down at 8,906.70 on Wednesday, breaking below its 25-day moving average at 8,983.84. The broader Topix index lost 2 percent to 742.54.
All Nippon Airways' could come under pressure following a report the number of seat cancellations on its Japan-China routes roughly totaled 40,000 in September, amid heightened tension between the two Asian neighbors over a territorial dispute.
Toyota Motor's shares are likely to decline after it pushed to 2015 its target to reach 1.0 million unit sales per year in Europe due to the euro-zone debt crisis, but the Japanese car giant still expected to meet its target of becoming profitable this fiscal year thanks to an early restructuring of its European operations.
Seoul shares are expected to decline at the open as worries about the health of the global economy continue to preoccupy investors.
The Korea Composite Stock Price Index (KOSPI) ended down 0.6 percent to 1,980.44 points on Wednesday, its lowest closing level in nearly two weeks.
Samsung Electronics will be on investors' radar on a report it appeared to be busy gathering ammunition to overturn a recent billion-dollar verdict from a U.S. federal court that Samsung “willfully” infringed Apple’s [AAPL 665.18 -8.36 (-1.24%) ] software patents.
“Juror misconduct” is the latest argument from the Suwon-based electronics maker, reported the Korean Herald, which alleges that the foreman of the nine-member panel which deliberated on the high-stakes patent battle with Apple failed to reveal his previous involvement in a litigation with a Samsung-affiliated company. The foreman, Velvin Hogan, also had extensive tech knowledge that likely influenced the other jurors, according to Samsung’s attorneys.
Construction-related stocks will be closely watched after the construction affiliate of the Woongjin Group, a mid-tier conglomerate, was declared bankrupt Wednesday and filed an application to undergo a court-managed workout program.
The move is expected to strike a severe blow to the group, which is already suffering from a liquidity shortage. Woongjin Holdings also filed for court receivership with the Seoul Central District Court the same day, saying it was the only option to save the entire group. The sale of water purifier maker Woongjin Coway to local private equity fund MBK Partners was "halted" after the holding company filed for court receivership.
Australian shares are set to open lower, held hostage to offshore markets again.
Investor confidence was also dented by a slowdown in China, Australia's top iron ore consumer, as China steel futures fell on Wednesday for the first time in three sessions, putting more pressure on spot iron ore prices.
BHP Billiton will be in the frame. It has asked the South Australian state government to extend a December deadline to October 2016 for the company to approve an expansion of its Olympic Dam copper and uranium mine.
The top global miner scrapped a $20 billion-plus plan to expand the mine in August, saying its proposal to dig an open pit was too expensive and it was going to start from scratch to find a cheaper way to extract copper.
Local share price index futures fell 0.5 percent, or 21 points, to 4,361.6, a 15.6 point discount to the underlying S&P/ASX 200 index [AU;XJO 4361.60 --- UNCH ]. The benchmark fell 0.3 percent on Wednesday.
New Zealand's benchmark NZX 50 index was flat at 3,808.2 in early trade
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