Asia-Pacific stocks were mostly higher Wednesday as investors assessed corporate earnings and China's efforts to bolster its market.
DBS Group, Southeast Asia's largest bank, reported a 2% year-over-year increase in fourth quarter net profit to $2.39 billion, while maintaining its full-year net interest income forecast for 2024. Shares of the bank jumped 2%.
China's biggest chipmaker SMIC said Wednesday persistent global macroeconomic headwinds and geopolitical tensions could impact the business in 2024, a day after it posted a 54.7% drop in fourth-quarter profit.
Shares of SMIC fell nearly 5% in Hong Kong trading.
Electric vehicles shares listed in Hong Kong rose after China's commerce ministry released a document that laid out its plan for "healthy development of new energy vehicles" in the country.
South Korea's Kospi jumped 0.95%, leading gains in Asia, while the Kosdaq gained 0.48%.
In Australia, the S&P/ASX 200 rose 0.45% and closed at 7,615.8, a day after the country's central bank held rates at 4.35%.
Hong Kong's Hang Seng index reversed gains to drop 0.34%, while the mainland Chinese CSI 300 rose 0.42%.
Japan's Nikkei 225 fell about 0.18%, while the broader Topix inched 0.33% higher.
Overnight in the U.S., all three major indexes gained ground after a fresh batch of quarterly earnings, with the S&P 500 up 0.23%.
The Nasdaq Composite inched up 0.07%, while the Dow Jones Industrial Average jumped 0.37%.
— CNBC's Samantha Subin and Hakyung Kim contributed to this report