Asia stocks ride tech wave higher, oil stays subdued
SYDNEY: Asian shares were aiming for a sixth session of gains on Wednesday as signs of consumer demand for AI apps continued to buoy tech stocks, while oil prices faltered on reports of increased supply out of the Middle East.
Asian shares surged for a sixth consecutive day on Wednesday, driven by consumer demand for AI applications and a dip in oil prices, while tech stocks continued to shine amid speculation of talks between US President Donald Trump and Iranian President Masoud Pezeshkian. Brent futures fell 0.1% to $99.18 a barrel, while US crude declined 0.4% to $90.14 a barrel.
Chinese President Xi Jinping arrived in Washington to discuss potential trade truce extension and cooperation on AI. Korean stocks rose 1.2%, with Samsung and SK Hynix both up over 2%. Taiwan stocks edged 0.9% higher, nearing all-time peaks. MSCI's Asia-Pacific index outside Japan gained 0.7%, marking its sixth consecutive day of gains.
Chinese blue chips were flat, while Japanese markets were closed for a holiday but Nikkei futures traded at 66,745, nearly 2,000 points above Friday's close. Analysts expect a strong reopening in Japan tomorrow, with crude expected to slide further and calm conditions in rates and Treasuries.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Asia stocks ride tech wave higher, oil stays subdued brecorder.com
- Asia stocks ride tech wave higher, oil stays subdued investing.com
