Japan's benchmark Nikkei index resumed trade at a near two-week high after being shut on Tuesday for a public holiday. A weaker currency overshadowed disappointing economic data as the yen traded near a two-week low against the dollar, boosting exporters.
Among top gainers, Nissan Motor rose 2 percent after reporting its steepest quarterly profit gain in three years on Monday. Sony jumped 3.7 percent after the Nikkei reported it is in talks with Apple to double its supply of camera components for a new iPhone.
Meanwhile, December core machinery orders fell 15.7 percent from November, worse than the 4.1 percent expected fall.
After the market close, SoftBank reported that October-December net profit fell 13.4 percent.
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Shanghai up 0.3%
Mainland shares took a breather after closing at its highest levels in over a month on Tuesday. The benchmark Shanghai Composite hovered around 2,105 points in quiet trade as investors digested January's trade data.
Environmental stocks were in focus after the vice-environment minister said 32 projects were vetoed last year as the government cracks down on industrial pollution. Tianjin Capital Environment rallied over 5 percent while Beijing Capital rose nearly 1 percent.
"We're calling this year the 'Year of the Donkey.' We think China's growth will disappoint but we think old economy stocks will do better. There's a lot of blind buying of new economy stocks but all those sectors have high regulatory risks, whether its healthcare, media or the environment," said Ewin Sanft, head of China & HK equity research at Standard Chartered.
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