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Asian equities mostly gained on Wednesday, after Moody's downgraded China's credit rating, while investors await the minutes from the U.S. Federal Reserve as well as the upcoming OPEC meeting.
Japan's benchmark Nikkei 225 climbed 0.66 percent at 19,742.68. South Korea's Kospi index added 0.24 percent to close at 2,317.34. Australia's benchmark S&P/ASX 200 index advanced 0.15 percent to 5,679.
Markets in mainland China traded mixed after the ratings downgrade, but eventually managed to pare losses. The Shanghai Composite reversed earlier declines to end 0.06 percent higher while the Shenzhen Composite rose 0.525 percent to 1,798.8692. Hong Kong's Hang Seng was trading 0.10 percent higher.
In Japan, Toshiba's U.S. nuclear arm Westinghouse Electric said it has negotiated a deal which will allow the company to borrow $800 million. Shares of Toshiba soared 8.36 percent to end at 251.5 yen per share.
Shares of India's biggest automobile manufacturer Tata Motors gained 4.3 percent in pre-open trade after the company exceeded earnings forecasts for the fourth quarter. However, profits for the fourth quarter were down by 17 percent on year.
Singapore-listed commodities trader Noble Group said it is aware of media reports that Sinochem has stopped pursuing a stake in the firm. However, it was unable to confirm if the report was accurate. Noble shares reversed earlier declines to climb 11.9 percent.
