The benchmark Nikkei 225 index was up 0.10% or 21.08 points at 22,168.83 in early trade, while the broader Topix index was up 0.14% or 2.37 points at 1,661.72.

“The results of the US midterm election will likely become clear during the afternoon and we’ll see how the market reacts,” senior market analyst Toshiyuki Kanayama of Monex said in a commentary.

The dollar fetched ¥113.34 in early Asian trade, against ¥113.46 in New York late Tuesday.

“These midterms were never really expected to be a remarkable market event… but a shock on either side could spring forex markets out of this November slumber,” Stephen Innes, head of trading for Asia-Pacific at Oanda, said in a commentary.

In Tokyo, Toyota was up 0.37% at ¥6,655 (RM244.37) after it upgraded its full-year forecast to ¥2.3 trillion from its earlier estimate of ¥2.12 trillion.

Its rival Nissan was down 0.29% at ¥1,029.5 ahead of its earnings report due Thursday.

Panasonic was up 1.86% at ¥1,201 and game giant Nintendo was up 1.10% at ¥35,730.

On Tuesday, Wall Street stocks rose after a quiet session, with the Dow closing up 0.7% at 25,637.25.