The Australian benchmark ASX 200 was nearly flat, closing up 0.03 percent, or 1.499 points, at 5,327.7, with the energy sub-index's 2.34 percent rise offset by the materials sub-index's 1.11 percent drop.
The Nikkei 225 closed up 1.1 percent, or 194.06 points, at 17,862.21 as the yen remained weak against the greenback. The dollar/yen traded at 109:07 as of 3:06 p.m. HK/SIN. The pair stood at around 105 on U.S. Election Day. A weaker yen tends to benefit exporters, which get a fillip when overseas earnings are repatriated into the home currency.
Nintendo jumped 2.78 percent to 25,550 yen after the Japanese game maker announced it would release its Super Mario Run mobile game on Dec. 15.
Chinese markets were mixed: The Shanghai composite closed down 0.05 percent, or 1.57 points, at 3,205.41, while the Shenzhen composite was up 0.021 percent, or 0.45 points, at 2,124.85.
The yuan continued to weaken against the dollar, trading at 6.8688 as of 2:15 pm HK/SIN, the Chinese currency's lowest since January 2009. The People's Bank of China (PBOC) lowered Wednesday's yuan midpoint for the ninth straight day to 6.8592, compared with the last close at 6.8565.
Shares in China's Leshi Internet Information & Technology, also known as LeEco, rose as much as 4.6 percent on news that it had secured more than $600 million of support for its automotive and high-tech business. But by mid-afternoon, LeEco was trading down 0.36 percent at 38.96 yuan per share.
Hong Kong's Hang Seng was 0.61 percent higher as of 3:00 p.m. local time.
"Southbound funds flowing into Hong Kong stock market, via the Hong Kong-Shanghai link have accelerated over the last two days, showing rising interest from mainland investors after the recent sell-off," said Margaret Yang, market analyst at CMC Markets, in a note on Wednesday.
"Trading activities will probably pick up anticipating the launch of Hong Kong-Shenzhen link this month," she said.