Asian stocks diverged on Wednesday, with China posting its worst one-day performance in five weeks after being hit by a sudden bout of selling in small-caps in the afternoon session.
On the other hand, the Nikkei index at the Tokyo Stock Exchange jumped nearly 2 percent to six-week highs, as weaker-than-expected trade data stoked expectations for further stimulus from the Bank of Japan (BOJ).
Exports rose 0.6 percent in September from a year earlier, data from the Ministry of Finance showed early Wednesday, missing expectations for a 3.4 percent rise and way below August's 3.1 percent gain.
Imports, meanwhile, shrunk 11.1 percent on-year in September, slightly better than expectations for a 11.7 percent annual drop, producing a trade deficit of 114.5 billion yen. Analysts had expected Japan to post a trade surplus of 84.4 billion yen.
Major U.S. averages slipped overnight, with the Dow Jones Industrial Average snapping a three-day winning streak, amid a decline in healthcare and biotech names. The blue-chip Dow and S&P 500 shed 0.1 percent each, while the Nasdaq Composite closed down 0.5 percent.