Yields on U.S. government debt rose and stocks stateside closed higher ahead of Asia’s Wednesday trading day. In the region, investors await the release of China inflation data later during the day.

U.S. stocks closed higher on Tuesday in the lead up to earnings season kicking off later this week, with investors positive about the upcoming release of fourth-quarter results. Major U.S. banks, including J.P. Morgan, are set to report on Friday.

The Dow Jones industrial average rose 0.41 percent, or 102.8 points, to close at 25,385.8, the SP 500 tacked on 0.13 percent to finish at 2,751.29 and the Nasdaq composite added 0.09 percent to close at 7,163.58.

Over in Asia, futures implied Japanese equities would be mostly steady at the open after the benchmark Nikkei 225 hit its highest levels in 26 years in the previous session. Nikkei futures traded in Chicago were 0.08 percent lower at 23,830 and Osaka futures were off by 0.13 percent at 23,820.

Down Under, the SP/ASX 200 edged up 0.19 percent in early trade.

U.S. Treasury yields higher 

The yield on the 10-year U.S. Treasury note rose to a nine-month high overnight after the Bank of Japan on Tuesday moved to slightly reduce its long-dated Japanese government bond purchases.

“Although the decrease [from the BOJ] was modest, it broadens the number of global policymakers stepping away from the markets,” Kathy Lien, managing director of FX strategy at BK Asset Management, said in a note.

The 10-year yield stood at 2.55 percent at the end of Tuesday.

Corporate news

Toyota announced in a Tuesday statement that it would recall around 601,300 more vehicles in the U.S. due to safety issues related to Takata air bag inflators. The affected air bags have already been associated with at least 20 deaths, Reuters said.

Meanwhile, dealings in shares of Glencore on the Hong Kong market are set to cease on Wednesday after the miner announced last year it would delist from the Hong Kong Exchange. In a statement last October, Glencore said its Hong Kong-listed shares accounted for 0.3 percent of its total issued share capital. The delisting is expected to be effective Jan. 31.