Japan's stocks ended higher on Wednesday, lifted by reports that Japan's Prime Minister Shinzo Abe is to announce a 28 trillion yen about ($265.30 billion) economic stimulus package. 
The Nikkei .N225 ended up 1.7% at 16,664.82. It had jumped as much as 2.7% to 16,821.43 in early afternoon trade. 
The broader Topix .TOPX gained 1.1% to 1,321.67 and the JPX-Nikkei Index 400 .JPXNK400 added 1.2% to 11,887.23. 
Japanese Prime Minister Shinzo Abe said on Wednesday the government would compile a stimulus package of more than $265 billion to reflate the flagging economy, according to media reports, although it unclear how much will be spent to directly boost growth.