The South Korean won spiked higher against its US counterpart on Wednesday morning in Asia. The won advanced to a 1-year high of 1181.3 against the greenback by 9:35 pm ET, compared to yesterday's close of 1187.8. If the South Korean currency gains further, resistance is likely to be seen around the 1150.0 level.

In economic news, South Korea will announce August numbers for industrial output, service industry output and leading index. Industrial output is expected to climb 3.1 percent on year following the 0.7 percent annual gain in July. Service industry output was up 0.8 percent in July, while the leading index added 7.9 percent.

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