Asian markets traded mostly higher in early deals on Wednesday, buoyed by the technology-led gains on Wall Street. Despite escalating US-Iran geopolitical tensions and rising Brent crude oil prices, major indices found strong support from a sharp rally in semiconductor and artificial intelligence (AI) shares, notably Nvidia. South Korea’s KOSPI extended gains from the previous session followed by recent government and corporate initiatives. Driven by pushes to improve capital allocation, reduce complex cross-shareholdings, and enhance shareholder value, rising commitments to share buybacks and increased dividend payouts have attracted strong foreign and institutional investment.
Nikkei up by 130.81 points or 0.20% to 66,363.00, Straits Times rose by 15.95 points or 0.29% to 5,542.67, Taiwan weighted soared by 799.17 points or 1.81% to 45,032.04, KOSPI Index surged by 199.92 points or 2.96% to 6,947.87, and Shanghai Composite lifted by 3.88 points or 0.10% to 3,868.25
On the flip side, Hang Seng down by 231.29 points 0.92% to 24,901.00, Jakarta Composite declined by 24.47 points or 0.39% to 6,315.55, and FTSE Bursa Malaysia KLCI index slipped by 4.88 points or 0.28% to 1,715.49.
