Asian stock markets are trading higher on Wednesday, joining a record-setting night for world markets as investors cheered upbeat factory activity in Europe and solid earnings on Wall Street.

Hong Kong's Hang Seng gained 186.24 points or 0.78 percent to trade at 24,149.87. Singapore's Straits Times went up 8.00 points or 0.26 percent to trade at 3,102.19.

South Korea's KOSPI gained 3.75 points or 0.18 percent to trade at 2,106.68. Taiwan's TAIEX went up 29.68 points or 0.3 percent to trade at 9,793.61.

On the other hand, Japan's benchmark index, Nikkei 225 fell 34.76 points or 0.18 percent to trade at 19,346.68. China's benchmark index, Shanghai Composite fell 0.88 points or 0.03 percent to trade at 3,252.44.