Asian equities outside of China rose on Wednesday, rebounding after the previous day's losses, on hopes of fresh stimulus measures in Europe and China.
On Tuesday, European Central Bank officials said that they had not ruled out providing further stimulus to support the euro zone as it slowly recovers from the debt crisis. Meanwhile, the prospect of a reserve requirement ratio (RRR) cut from the People's Bank of China remains in focus following Monday's disappointing reading of March factory activity.
A positive handover from Wall Street also lifted sentiment. U.S. stocks climbed overnight, snapping their two-day losing streak after data showed consumer confidence hit a six-year high in March.
"Concerns around the three C's (cold, Crimea, China) are dropping off as the effect of the US winter subsides, the Crimean conflict is no longer affecting markets and China has seen stimulation bets ramping up," said Evan Lucas, market strategist at IG in a note.