South Korea's Kospi closed 3.1% higher. Samsung Electronics expects its operating profit for the last quarter to rise nearly eightfold from a year earlier.

Lucid Group said it will cut 18% of its workforce, including employees, contractors and hourly factory workers, and will eliminate a full production shift at its Arizona plant. Chief Operating Officer Marc Winterhoff is departing, with the company effectively removing the role. The company said the steps are aimed at matching production to weaker demand, reducing inventory and responding to deteriorating market conditions, according to a statement to SFGATE.