Encouraging economic data such as housing and consumer confidence in the US also boosted investor sentiment.
Japan's Nikkei was up 0.6% to 19,097.14 in the year's final trading day.
Japanese markets will be closed on Thursday for a public holiday.
In Australia, the benchmark S&P/ASX 200 index was up 0.7% to 5,304.20, leading the gains in the region.
But commodity shares still weighed on the market with shares of mining giants BHP Billiton and Rio Tinto down 0.9% and 0.4% respectively.
Chinese shares were barely unchanged with the Shanghai Composite trading flat at 3,565.77, while Hong Kong's Hang Seng index was up 0.1% to 22,016.92.
South Korea's Kospi index was higher by 0.1% to 1,967.60 points.
Investors ignored data that showed industrial production saw its worst decline in 10 months in November on slumping global demand for exports.
Factory output fell a seasonally adjusted 2.1% from a month earlier, according to Statistics Korea.