Asian markets trade mostly higher in early deals on Wednesday

Asian markets traded mostly higher in early deals on Wednesday, driven by a strong global technology rally and as short-term inflation jitters eased with the cooler crude prices. Fresh momentum in the semiconductor and artificial intelligence sectors provided a major boost to the region's largest technology companies. South Korea's KOSPI rebounded sharply after chip giant SK Hynix reported record-breaking Q3 earnings and announced a historic 100 trillion won shareholder return program.

Nikkei soared by 691.63 points or 1.09% to 63,960.00, Hang Seng up by 48.68 points or 0.21% to 23,090.00, Straits Times rose by 7.80 points or 0.14% to 5,404.83, Taiwan Weighted surged by 867.45 points or 1.88% to 46,963.68, KOSPI Index skyrocketed by 362.20 points or 6.42% to 6,000.54 and Shanghai Composite lifted by 27.96 points or 0.77% to 3,676.26

On the flipside Jakarta Composite declined by 87.07 points or 1.65% to 5,179.06 and FTSE Bursa Malaysia KLCI index dipped by 1.44 points or 0.09% to 1,610.41