Most Asian markets Open Lower, Nikkei down around 2%

Shares in Japan continued to fall on Wednesday as the perpetual slide in oil prices and uncertainty over China's economic growth weighed on markets.

It is suspected downward pressure is being placed on markets as Sovereign wealth funds from oil-producing countries sell off their risky assets. The benchmark Nikkei 225 has fallen 2.06% to 16.687.75 since the open.

The Shanghai Composite index was 0.49% lower at 2,993.01 at the open, while the Shenzhen Composite index was 0.42% lower at 1,974.10. The CSI 300 index also fell 0.6% to 3,204.22 at the open.

Moreover, Hong Kong's benchmark Hang Seng index opened 1.62% down at 19,332.22. And in South Korea the benchmark Kospi index was trading 1.20% lower at 1,866.94.

The benchmark Australian S&P/ASX 200 index fell 0.68% to 4,869.70.

Bucking the trend New Zealand's benchmark S&P/NZX 50 rose 0.16% to 6,134.18.