Asian stock markets settled mixed on Wednesday, as investors awaited more policy details from U.S. president-elect Donald Trump. Oil prices bounced back after a brief retreat that snapped an overnight rally.

Japan's benchmark index, Nikkei 225 gained 194.06 points or 1.1 percent to settle at 17,862.21. South Korea's KOSPI rose 12.12 points or 0.62 percent to end at 1,979.65. Taiwan's TAIEX gained 31.19 points or 0.35 percent to end at 8,962.22.

On the other hand, China's benchmark index, Shanghai Composite declined 1.93 points or 0.06 percent to close at 3,205.06. Hong Kong's Hang Seng fell 43.38 points or 0.19 percent to end at 22,280.53. Singapore's Straits Times fell 3.56 points or 0.13 percent to end at 2,793.99.