Japanese market tumbled as tech shares tracked their U.S. peers lower on concerns over stretched valuations. The Nikkei average slumped 1.31 percent to 50,168.11 while the broader Topix index settled 0.22 percent higher at 3,431.47.

Among the prominent decliners, Advantest plunged 6.4 percent, SoftBank Group lost 6 percent and Tokyo Electron declined 1.1 percent.

Banks Mitsubishi UFJ Financial and Sumitomo Mitsui Financial both rose over 2 percent as an upbeat Tankan survey reinforced view that the Bank of Japan will raise interest rates on Friday.

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