Asian stock markets are trading higher on Wednesday, with investors juggling a sentiment-boosting jump in oil prices with geopolitical tensions on the Korean peninsula.

Japan's benchmark index, Nikkei 225 went up 48.38 points or 0.26 percent to trade at 18,858.63. China's benchmark index, Shanghai Composite rose 30.40 points or 0.94 percent to trade at 3,252.92. Hong Kong's Hang Seng rose 76.32 points or 0.31 percent to trade at 24,337.80.

South Korea's KOSPI gained 0.19 points or 0.01 percent to trade at 2,161.29.  Taiwan's TAIEX rose 109.23 points or 1.11 percent to trade at 9,920.75.

On the other hand, Singapore's Straits Times lost 4.03 points or 0.13 percent to trade at 3,175.03.