Asian markets end in red on Wednesday

Asian equity markets ended in red on Wednesday, with Japan's Nikkei entering the bear market, as global sentiment remained low on concerns over economic growth, China, and oil wallowed at its lowest since 2003 after IEA's warning that oil supply glut may last through 2016. The International Monetary Fund has lowered its global growth projections for this year and the next, citing a sharp slowdown in China trade and weak commodity prices that are hammering emerging markets and developing economies. Chinese shares ended lower after the China Securities Regulatory Commission approved a new batch of initial public offerings under a new IPO registration system, despite the central bank's pledge to ease short-term liquidity.