Nikkei, the Asian benchmark, went down sharply in early trading Wednesday on the Tokyo Stock Exchange as concerns about global recession returned but recovered toward close to consolidate its gains of the past two sessions.

The index added nearly 100 points, or 1.06 percent, to end at 9,547.47 as buyers came back in the final minutes despite a mixed outlook on the global financial turmoil and global economy, Kyodo news service reported.

Nikko Cordial Securities' Hiroichi Nishi told Kyodo that while there were signs of deterioration in the global economy and their impact on corporate earnings, "excessive concerns about the financial crisis and a weaker U.S. dollar have eased for now."

Hong Kong's Hang Seng Index was down nearly 835 points, or 4.96 percent, and closed at 15,998.

Markets in Australia, Taiwan, South Korea and Singapore also ended lower.

India's 30-stock Sensex index on the Mumbai stock exchange was headed for a big loss.