Asian stocks enjoyed a strong rebound on Wednesday following the previous day's sell-off as investors cheered an improving global economic outlook. However, Chinese shares underperformed on the back of some weak data.
In its newly-released Global Economic Prospects report, the World Bank said that global growth is set to accelerate this year, five years after the financial crisis.
(Read more: Global economy at a turning point: World Bank)
Also underpinning sentiment was a strong lead from Wall Street, where indices chalked up their strongest performance of the new year thanks to upbeat December retail sales data, which helped offset concerns about the U.S. economy following Friday's weak jobs report.