Asian stock markets settled lower on Wednesday, losing some of the optimism spurred from the Dow hitting a new record close overnight just shy of the psychological 20,000 level.

Japan's benchmark index, Nikkei 225 lost 50.04 points or 0.26 percent to settle at 19,444.49. Singapore's Straits Times lost 9.61 points or 0.33 percent to end at 2,901.70.

South Korea's KOSPI fell 3.98 points or 0.19 percent to end at 2,037.96. Taiwan's TAIEX lost 38.15 points or 0.41 percent to end at 9,204.26.

On the other hand, China's benchmark index, Shanghai Composite gained 34.55 points or 1.11 percent to close at 3,137.43. Hong Kong's Hang Seng gained 80.74 points or 0.37 percent to end at 21,809.80.