CSI 500 index futures (IC) front-month contract down over 1.00% intraday, trading at 7597.4.

ING analyst Chris Turner said rising energy prices could prompt markets to reprice other central banks' rate-hike expectations, keeping low-yield currencies such as the yen and Swiss franc under pressure. He noted equities have held up despite higher energy costs, which may reduce the yen and franc's safe-haven appeal, but a more important factor "appears to be low rates and the slow pace of rate hikes by central banks." USD/JPY was down 0.2% at 162.90 after touching a 40-year high of 163.23 on Tuesday. USD/CHF was down 0.1% at 0.8118, near an overnight one-week high of 0.8133.

Market news: alarms sounded in Kuwait and Bahrain.