Asian equity markets mostly advanced on Wednesday, tracking gains on Wall Street as semiconductor stocks rallied on renewed optimism about artificial intelligence-driven demand.
Investors also looked past rising oil prices as the US carried out strikes on Iranian targets for an 11th straight night, while President Donald Trump downplayed the likelihood of near-term talks with Tehran.
Technology-heavy markets in Japan and South Korea led regional advances, with equities in Australia and China also posting gains.
In corporate news, China’s Moonshot AI is reportedly set to begin discussions in August for a final fundraising round ahead of its planned Hong Kong listing, targeting a valuation of as much as $50 billion.