Nikkei up 1.2%
Japan's benchmark ended at a one-week high after dollar-yen rose above the 98 handle for the first time in three days and as attention remained on local earnings.
Index heavyweight SoftBank jumped 1 percent after the Nikkei newspaper said operating profit could surge over 70 percent for the six months ended September 30.
Nomura closed 1.3 percent higher after its quarterly net profit met market expectations while Renesas Electronics surged over 5 percent after reporting a narrower loss for the first half. But robotics maker Fanuc shed 2 percent after forecasting a decline in full-year profit.
On the economic front, September industrial output data rose 1.5 percent, rebounding from a decline last month.
"Companies are forecasting a further pick-up of 4.7 percent [on month] in October. While the October forecast will likely turn out too optimistic, there is a good chance that industrial production will finally return to the levels observed at the beginning of last year in the coming months," said Marcel Thieliant, Japan Economist at Capital Economics.
Shanghai up 1.5%
China's benchmark index rebounded from the previous day's eight-week low even as the seven-day repo-rate, a key gauge of liquidity, spiked to its highest level in four months.
Analysts attributed the lack of reaction to expectations of further cash injections from the People's Bank of China, a day after the central bank injected funds into the market. Also underpinning gains were comments from a central bank official on Tuesday that liquidity conditions will remain ample.