Technology an energy companies helped push Asian markets higher on Wednesday following a good quarterly results and a bullish outlook by chip maker Intel Corp in the U.S. on Tuesday and record oil prices.

The Nikkei 225 Average was up 149.99 points, or 13,140.57 in afternoon trading in Tokyo. The S&P/ASX index in Sydney was up 56.60 points, or 1.05 percent to 5,457.00. The Hang Seng index in Hong Kong rose 122.43 points, or 0.51 percent to 24,023.76. The Kospi index was up 14.73 points, or 0.85 percent to 1,756.90.

Shares of semiconductor and engineering firm Advantest Corp. rose 4 percent in Tokyo while memory maker Elpida rose 4.5 percent. Hynix Semiconductor Inc rose 1.1 percent in Seoul.

On Tuesday, Intel reassured investors by reporting results in line with analysts' expectations. The Santa Clara, California-based firm also boosted its outlook for gross margins by 56 percent.

Meanwhile, record oil prices pushing levels past $113 gave commodity related firms a boost.

Australian energy firm BHP Billiton Ltd shares shot up 2.7 percent in Sydney. Woodside Petroleum Ltd, another energy company in Australia was up 2.3 percent. Japan-based oil explorer and shipper Inpex Holdings Inc. rose 1.6 percent in Tokyo.