Japan stocks buoyed Wednesday led by Asian stock markets' high stock prices and the news of sharp equity rises across Asia.

Japan's benchmark Nikkei stock index closed above the 14,000 line Wednesday for the first time since January 11, buoyed by sharp equity rises across Asia and subsiding credit woes plaguing U.S. bond insurers.

The 225-issue Nikkei Stock Average gained 206.58 points, or 1.49 percent, from Tuesday to 14,031.30. The price reached 14,000 line for the first time since January 11th.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 17.05 points, or 1.27 percent, to 1,364.52.

Among all First Section issues, 1,381 increased and 252 declined. The trading volume reached 2.08287 billion stocks or 2.2973 trillion yen.

Financial companies issues, such as Mizuho FG and Mitsui Sumitomo FG were increased due to subsiding credit turmoil of the U.S. market while seaborne shipping companies such as Mitsui O.S.K. Lines and NYK Line declined.

Japanese currency is being traded in the middle of 107 yen per 1 U.S. dollar.

Traders said, Investors expect a large buyout by Sovereign Wealth Fund, so it seems difficult to sell large volume of stocks. Although the average price reached 14,000 line, some more good news is needed to increase the price more.