Asian stock markets are trading higher on Wednesday as investors looked to President-elect Donald Trump's news conference later in the day for any clues to his policies on tax, fiscal spending, international trade and currencies.

Japan's benchmark index, Nikkei 225 went up 94.37 points or 0.49 percent to trade at 19,395.81. Hong Kong's Hang Seng gained 147.88 points or 0.65 percent to trade at 22,892.73. Singapore's Straits Times went up 6.81 points or 0.23 percent to trade at 3,012.83.

South Korea's KOSPI rose 20.58 points or 1.01 percent to trade at 2,065.70. Taiwan's TAIEX rose 9.99 points or 0.11 percent to trade at 9,359.63.

On the other hand, China's benchmark index, Shanghai Composite lost 3.19 points or 0.1 percent to trade at 3,158.48.