Asia markets were in the green as investors cheered better-than-expected Japanese exports data and South Korean gross domestic product figures.
The Nikkei 225 Index recovered 269.51 points, or 1.4%, to 19,057.50,
The Hang Seng Index in Hong Kong improved 99.26 points, or 0.4%, to 23,049.12
Japan's annual exports grew in December for the first time in 15 months, led by shipments of car parts and electronics. Exports in December were up 5.4% from the previous year, significantly better than the Reuters poll of economist forecasting a 1.2% increase.
Shares of Takata advanced 18.2% to hit its daily price limit of 80 yen (70 U.S. cents) per share. The Japanese airbag maker stock had fallen 40% since a week ago, over concerns of court involvement in its Japanese business plans.
In Australia markets were led upwards by the materials sub-index, which was up 2%.
Major miner Rio Tinto was up 3.8% to A$67.23 per share, after it announced Tuesday that it has agreed to sell its Australian unit Coal & Allied Industries to China's Yancoal Australia for up to $2.45 billion U.S. Other major Australian miners were also positive, with Fortescue Metals up 0.8% to A$6.59 and BHP Billiton gaining 3.3% at A$27.89.
Meanwhile, Australia's inflation rose less than expected in the last quarter of 2016, up 0.5% in the fourth-quarter and 1.5% from the previous year. The Reserve Bank of Australia targets an annual inflation rate in the range between 2% and 3%
Korean markets were narrowly higher, after the Bank of Korea showed that fourth-quarter GDP rose 0.4% from the previous quarter, and 2.3% on-year. A Reuters poll had estimated growth to rise by 0.3% in the final quarter.
The yen was stronger against the U.S. dollar, at 113.63 compared to levels above 114 last week, as the Australian dollar held steady at $0.7532.
Markets in the region also took a positive lead from Wall Street after S&P 500 hit an all-time high over President Donald Trump's executive orders to make it easier for TransCanada to build the Keystone XL pipeline and for Energy Transfer Partners to build the final potion of the Dakota Access pipeline.
CHINA
In Shanghai, the CSI 300 added 11.45 points, or 0.3%, to 3,375.90
A top executive told the media Tuesday that China's progress towards full inclusion of its stocks in global benchmarks could stop in its tracks, if it continues to tighten capital controls and prevent people from moving money out of the country.
Beijing's tightening capital controls comes as a bid to stabilize its currency, which has been under pressure against the stronger dollar.
The onshore yuan fell almost 7% against the dollar in 2016, its biggest decline since 1994.
Overnight during U.S. hours, Alibaba Group reported a 54% growth in third-quarter revenue, boosted by higher sales during the Single's Day shopping event. The Chinese e-commerce giant saw revenue at 53.25 billion yuan ($7.67 billion) for the quarter ended Dec. 31, beating a poll of analysts forecast of 50.10 billion yuan. Alibaba shares were up 3.1% at $101.43 U.S. each.
In other markets
Markets in Taiwan were shuttered for holiday
In Korea, the Kospi gained back 1.18 points, or 0.1%, to 2,066.94
The Straits Times Index in Singapore dipped 2.01 points, or 0.1%, to 3,039.94
In New Zealand, the NZX 50 recouped 26.75 points, or 0.4%, to 7,090.91
Australia's ASX 200 hiked 21.42 points, or 0.4%, at 5,671.52
