Asian equities rose on Wednesday following better-than-expected U.S. growth data but Japanese shares underperformed on the back of a stronger currency.
Gross domestic product (GDP) in the world's largest economy was revised up to 3.9 percent from 3.5 percent in the July-September period, data showed on Tuesday. That offset a separate report showing an unexpected drop in consumer confidence in November. Wall Street shares ended flat despite the positive GDP report.
Steep declines in commodity prices remained in focus. Brent crude traded below $80 a barrel on Wednesday while U.S. crude also extended losses after closing at a four-year low ahead of an OPEC meeting that has investors considering prospects for the first reduction in production quotas since 2008. Meanwhile, iron ore prices fell below $70 a ton for the first time since 2009.
Read MoreOPEC won't save oil prices: Trader
"There are three key reasons as why a cut in production may not eventuate yet. First, is the uneven impact of a drop in oil prices. Second, is the difficulty in enforcing compliance to production cuts given that many will want to produce more to gain market share. Finally, too quick a response to the correction in global oil prices amid still weak demand recovery may not be politically acceptable on multi-lateral platforms," said Vishnu Varathan, senior economist at Mizuho Bank.