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Most Asian markets stumbled Wednesday, with China shares tumbling, as analysts pointed to renewed concerns about China's economy after lower-than-expected trade data for February, released Tuesday.

The Shanghai composite dropped 1.97 percent, while the Shenzhen composite fell 1.38 percent in early trade.

Elsewhere, the Japanese benchmark Nikkei 225 was lower by 1.22 percent, Hong Kong's Hang Seng index fell 0.66 percent and South Korea's Kospi was flat. Down Under, the S&P/ASX 200 bucked the trend, tacking on 0.26 percent.

Rodrigo Catril, a currency strategist at the National Australia Bank, said in a note, "renewed concerns over China's economic outlook following [Tuesday's] softer than expected trade numbers halted a five day equity rally and triggered a bid for safe haven assets."

Among safe-haven assets, the Japanese yen maintained its strength against the dollar at the 112 handle, off levels above 113 touched Tuesday. The dollar/yen pair traded at 112.52 as of 9:49 a.m. HK/SIN time.

Reference: CNBC

Read more: http://www.cnbc.com/2016/03/08/asia-stock-markets-to-focus-on-oil-prices-losses-in-us-equities-and-china.html