On Wednesday, Asian stocks went up taking a cue from Wall Street profits and on expectations for more handsome U. S. earnings, while the euro climbed up toward a one-month high hit the previous day.

The euro was supported by positive German data and central bank purchasing, but still doubts about Europe's ability to gather up a sovereign rescue fund kept a reign on gains.

U. S. stocks brushed off concerns surrounding Apple Inc (AAPL. O), which was affected by news of Chief Executive Steve Jobs' medical leave and helped by good earnings for the iPhone and iPad maker whose share went up by more than four percent in extended trade.

Optimism about earnings has helped strengthen U. S. stocks in recent weeks, raising hopes that the No. 1 economy of the globe could come back to a sustainable recovery path and that Japanese companies would follow the path and show a recovery in earnings.

Google (GOOG. O), whose hiked up price targets lifted its shares, will release its reports later in this week, and results of the heavy equipment manufacturer Caterpillar (CAT. N) are coming out in the next week.

Earnings for the financial sector will also be getting released with Goldman Sachs Group Inc (GS. N) coming out later in the day, Morgan Stanley (MS. N) on Thursday and Bank of America Corp (BAC. N) on Friday.

A fund manager at Chibagin Asset Management named Hiroaki Osakabe stated that after the reports of Google that will be out tomorrow investors will keep their sharp focus on Tokyo firms.

He went on to say that as most of them are expected to post strong earnings, the market will be keen to find out about how they're going to sustain that performance in the long run.