Asian stocks advanced on Wednesday after top U.S. and Chinese officials said they have reached a framework to implement the Geneva consensus, following two days of discussions in London.

Regional gains, however, were capped as investors awaited the details of the outcome of trade talks and looked ahead to the release of U.S. consumer inflation data later in the day for direction.

A muted dollar helped lift gold prices higher while oil prices were little changed in Asian trade.

China's Shanghai Composite index gained 0.52 percent to close at 3,402.32, with automakers rising after pledging to shorten payment terms for suppliers. Hong Kong's Hang Seng index jumped 0.84 percent to 24,366.94, with EV and tech stocks leading the surge.

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