Japan's Cabinet Office released its core machinery orders data for Japan on Wednesday. Core machinery orders in Japan jumped 3.8% in April, beating expectations for a 2.0% drop, after a 2.9% gain in March.

On a yearly basis, Japan's core machinery orders gained 3.0% in April, beating forecasts of a 1.3% decline, after a 2.6% rise in March.

These figures are signs that Japanese companies may be expanding their capital expenditure.

The Cabinet Office upgraded its assessment of machinery orders saying they were picking up, compared with the previous view that machinery orders were "showing a gradual pickup."