Asian stocks fell, with the regional benchmark index heading for a third-day of losses, after improving U.S. economic reports added to concern the Federal Reserve will scale back its stimulus and data painted a mixed picture about China's manufacturing.

Nikkei 225 13,261.82 -512.72 -3.72%

S&P/ASX 200 4,888.3 -38.27 -0.78%

Shanghai Composite 2,299.25 -1.34 -0.06%

Nissan Motor Co., a Japanese carmaker that gets 34 percent of its sales in North America, slid 4 percent.

Nomura Holdings Inc. paced losses among Japanese brokerages.

Cochlear Ltd. slumped 18 percent after the maker of implant systems for the hearing impaired said sales were weaker in the second half.

China Foods Ltd., a maker of products including beverages, snacks and instant food, slumped 9 percent after saying it expects its operating profit will fall.