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Japan's Nikkei share average tumbled to a two-week low on Friday, led by futures selling as hedge funds took profits from recent gains.
The Nikkei benchmark fell 1.7 per cent to 19,141.62 points after falling to as low as 19,099.87 in mid-afternoon trade, the lowest level since March 13.
Earlier in the day, it rose to as high as 19,590.03. It looked set for its biggest daily drop in 11 weeks.
"Hedge funds and commodity trading advisors are seen taking profits and unwinding their options positions before the first quarter ends," said a senior trader at a foreign brokerage.
The Nikkei hit a 15-year high of 19,778.60 on Monday. Exporters also suffered, with Toyota Motor Corp falling 2.0 per cent, Honda Motor Co dropping 2.1 per cent and Nikon Corp shedding 3.6 per cent.
The broader Topix dropped 1.8 per cent to 1,541.27, with all of its 33 subsectors in the red. The JPX-Nikkei Index 400 declined 1.7 per cent to 14,021.16.
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