Asian stocks eke out more gains on expectations of Beijing step-in

• Asian shares are mostly up on earnings and hopes of China stimulus.
• Shanghai is seeing bearish action once again, a familiar play with the CSI 300 still down 10.25% for 2018.

Earnings in the US session continue to bolster equities, and Asian shares are joining Wall Street on the ride, bolstered by earnings season as well as expectations that China will go further to stimulate their economy amidst a deepening trade war with the US.

Tariffs are continuing to be hurled back and forth between the US and China, but investors are focusing on Wall Street's earnings, which are dragging stocks higher; amidst the US-China trade war, Beijing is expected to stimulate the domestic economy in order to protect and stimulate growth despite the trade war, and stock investors are banking on China finding a way to avert a steep contraction in China's economy.

Japan's Nikkei 225 index is up 0.40% for the day, with Tokyo's Topix index slightly behind at 0.35%; Hong Kong's Hang Seng Index is trading up by 0.42% for the time being, while Australia's ASX 200 is trading flat at -0.04%, with the MSCI broad Asia-Pacific index jumping by 0.87%; only the Shanghai CSI 300 index is stumbling for Wednesday, trading in the red by -0.55%.

Nikkei 225 levels to watch

Japan's leading equity index continues to stick close to 22,500.00, and the constrained index is facing tight barriers at both 22,775.00 and 22,340.00, while resistance sits at familiar swing highs near the 23,000.00 major technical barrier, with support at mid-July's swing low of 21,460.00.