The Shanghai Composite Index notched up 0.3% as the yuan hit its highest level against the dollar since being revalued last July. Australia''s S&P/ASX 200 was flat, edging down 0.01%. Beverage company Foster''s Group shed 0.64% after denying rumors it had been approached about a takeover. In South Korea, the Kospi index dropped 0.24%. Taiwan''s Weighted index gained 1.65%, with PC-maker Acer adding 7% after Merrill Lynch upgraded it to buy from neutral.


6:30AM European markets were higher lifted by tech and transport shares.
European markets were higher by mid-morning on Wednesday. London FTSE 100 rose 0.4% to 5,910.2, while Frankfurt’s Xetra Dax added 0.4% to 5,867.3. In Paris, the CAC 40 advanced 0.5% to 5,184.13. Transport stocks were in demand, led by Moller-Maersk, the Danish container shipping group, which reported upbeat full-year guidance in the previous session. Its shares gained 4%.

EADS, continued to benefit from speculation about Russian stakebuilding, as state bank Vneshtorgbank was reported by the Russian press on Tuesday to have accumulated a 5% stake in EADS. Also in the transport sector, Deutsche Post, the German logistics and delivery group, advanced 1.8%, while Dutch group TNT gained 1.7%.

Crude oil for October delivery gained 19 cents to $69.90 a barrel, supported by an expected decline in U.S. crude and gasoline stocks in statistics due later on Wednesday and Iran''s determination to press ahead with its nuclear program.

Gold was trading around $614.20 an ounce, up a little from late New York trade and off a five-week low of $606.80 struck earlier on Tuesday. The euro was steady against the U.S. dollar in early European trading Wednesday, holding onto gains made as the chances of higher U.S. interest rates appeared to wither. The euro bought $1.2830, compared with $1.2831 in New York late Tuesday. The British pound slipped slightly to $1.8986 from $1.8989 on Tuesday, while the dollar was at 116.95 Japanese yen, up from 116.61 yen.