Asian stocks opened strongly on Wednesday after a good performance overnight by the S&P 500 as well as the Dow Jones Industrial Average. The S&P closed nearly 2 per cent higher while the Dow posted a gain of 1.3 per cent.

Investors were hopeful that the European Central Bank would continue its economic stimulus efforts as sources say it bought Italian debt yesterday.

Japan's Nikkei 225 surged 1.85 per cent in early trade while Korea's Kospi was up 0.57 per cent.

The Singapore market is closed for the Deepavali holiday.