Asia-Pacific markets fell Wednesday, tracking Wall Street declines overnight, as investors parsed Japan's trade data and China's loan prime rate decision.

Japan's exports dropped 2.6% year over year in July, notching their steepest drop in over four years. The fall was sharper than the 2.1% contraction expected by economists polled by Reuters and compared to the 0.5% drop seen in June.

Japan's Nikkei 225 declined 0.93%, while the Topix lost 0.31%.

South Korea's Kospi lost 1.52% and the small-cap Kosdaq fell 1.77%. Australia's S&P/ASX 200 was 0.24% lower at the open.

Hong Kong's Hang Seng index fell 0.71%, while the mainland's CSI 300 declined 0.48% after China left its key lending rates steady in August for a third straight month, matching market forecasts. Taiwan's

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