Asian markets were trading mostly higher on Wednesday morning buyed by technology shares in Japan and property stocks in Hong Kong.
US market closed at 2011 highs following upbeat earnings from Ford Motor Company and United Parcel Service Inc. The Dow Jones Industrial Average was up 0.9% and the Nasdaq Composite gained 0.9% each. The Standard & Poor's 500-stock index added 0.8%.
In Asia the Nikkei Stock Average surged 1.3% lifted by gains technology and electronic shares. S&P cut outlook on Japan's sovereign rating to negative from stable citing fiscal deficit concerns
Hang Seng also shot up 0.6% as investors bought property developers. Also Shanghai Composite index was up 0.4%. South Korea's Kospi Composite was up 0.2%, Singapore's Strait Times edged up 0.6% and Taiwan's weighted index climbed 1.2%.