Asian stock markets settled lower on Wednesday as growing doubts about Donald Trump's economic growth agenda prompted investors to dump risky assets and rush to safe havens such as gold and government debt.

Japan's benchmark index, Nikkei 225 plunged 414.50 points or 2.13 percent to settle at 19,041.38. China's benchmark index, Shanghai Composite fell 16.39 points or 0.5 percent to close at 3,245.22. Hong Kong's Hang Seng fell 272.71 points or 1.11 percent to end at 24,320.41.

Singapore's Straits Times fell 40.38 points or 1.28 percent to end at 3,118.19. South Korea's KOSPI fell 10.08 points or 0.46 percent to end at 2,168.30. Taiwan's TAIEX fell 49.83 points or 0.5 percent to end at 9,922.66.