Asian, Pacific stocks mostly higher

(CNN) - Stocks in Australia, Japan and South Korea bolted upward Wednesday, while Hong Kong and Shanghai fell.

Tokyo's Nikkei index finished the day 1.7 percent higher as investors boosted shares on hopes for a U.S. economic stimulus package from the incoming Democratic administration. Australia's All Ordinaries index closed 1.1 percent higher and Seoul's KOSPI index gained 2.8 percent.

Markets in China traded in negative territory as Hong Kong's Hang Seng index lost 1.5 percent and the Shanghai composite was down 0.3 percent.