Asian stock markets settled higher on Wednesday, although there has been some late-session trepidation as the day will see the United Kingdom’s formal application to leave the European Union. Prime Minister Theresa May has already signed the document in question which will be delivered to Brussels later.

Japan's benchmark index, Nikkei 225 rose 14.61 points or 0.08 percent to settle at 19,217.48. Hong Kong's Hang Seng rose 46.18 points or 0.19 percent to end at 24,392.05.

Singapore's Straits Times gained 26.75 points or 0.85 percent to end at 3,184.57. South Korea's KOSPI gained 3.67 points or 0.17 percent to end at 2,166.98.

On the other hand, China's benchmark index, Shanghai Composite fell 11.63 points or 0.36 percent to close at 3,241.31. Taiwan's TAIEX declined 20.20 points or 0.2 percent to end at 9,856.25.