Asian stocks ended mixed on Wednesday as a cryptocurrency rebound lost steam and focus shifted to key U.S. economic data and upcoming central bank decisions. China's Shanghai Composite index dipped 0.51 percent to 3,878 while Hong Kong's Hang Seng index fell 1.28 percent to 25,760.73.

Japanese markets rose sharply as technology stocks tracked Wall Street higher. The Nikkei average ended up 1.14 percent at 49,864.68 while the broader Topix index closed 0.20 percent lower at 3,334.32. Advantest, Tokyo Electron, Renesas Electronics and SoftBank Group surged 5-7 percent.

The Kospi average jumped 1.04 percent to 4,036.30 ending above 4,000 for the first time since Nov. 20. Australian markets ended slightly higher. The benchmark S&P/ASX 200 edged up by 0.18 percent to 8,595.20, led by utilities, real estate and tech stocks. The broader All Ordinaries index closed up 0.19 percent at 8,894.20. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index surged 0.59 percent to 13,582.54, extending gains from the previous session.

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