Asian shares gained comfortable ground on Wednesday after positive data from China showed exports surging 18.7% y/y in March, while imports fell just a small 1.7%, beating expectations handily and allaying investors' fears of a hard landing for China's economy while transferring from an investment economy to a consumption one.

China's Shanghai index jumped 2.12% to 3,087, while Japan's Nikkei index advanced nearly three percent to a more than a week high. Australian shares added 1.60%, while South Korea's KOSPI climbed nearly 0.60% to a week high.

Yen recorded some losses against the dollar as appetite for risk improves considerably, with the Japanese currency sliding 0.30% to 108.95, while the euro gave up 0.20% to hover around 1.1359. Sterling inched down 0.08% to move around 1.4246.

Other safe havens suffered losses alongside the yen, with gold futures tumbling 0.90%, or more than ten dollars to trade at $1,250 an ounce, while silver futures shed 15 cents, or 0.91% to hover around $16.07 an ounce, still firmly above $16.

Investors wait for an array of data later today, with U.S. retail sales expected to have risen 0.1% m/m in March, compared to February's 0.1% dip, which would be positive for the greenback.

U.S. crude inventories on the other hand are expected to have risen 0.9 million barrels last week, compared to the previous week's 4.9M draw, which would bring back fears over weak demand and the supply glut, affecting oil prices negatively.