Asian markets traded mostly higher in early deals on Wednesday, on account of risk appetite with the firm corporate earnings result and on robust demand for artificial intelligence-linked stocks. Stronger-than-anticipated US inflation data solidified the outlook for higher-for-longer Federal Reserve interest rates. Meanwhile, looming uncertainty over US-Iran peace talks and surging crude oil prices tied to the Middle East tensions lingered to dull the sentiments. South Korea’s KOSPI surged the most among Asian indices, buoyed by active government efforts to increase corporate value, enhance governance, and reform tax policies to end the longstanding 'Korea discount’.
Nikkei up by 512.43 points or 0.82% to 63,255.00, Hang Seng rose by 84.09 points 0.32% to 26,432.00, Straits Times added by 41.34 points 0.84% to 4,987.34, KOSPI Index soared by 151.69 points or 1.98% to 7,794.84, and Shanghai Composite increased by 3.73 points or 0.09% to 4,218.22.
On the flip side, Jakarta Composite tumbled by 120.47 points or 1.76% to 6,738.43, Taiwan weighted wilted by 625.41 points or 1.49% to 41,272.91, and FTSE Bursa Malaysia KLCI index down by 6.67 points or 0.38% to 1,743.89.
