Asian markets settle higher on Wednesday

Asian markets settled higher on Wednesday, buoyed by an AI-fuelled rally on Wall Street. South Korea’s Kospi surged above 6% as revived optimism over artificial intelligence demand and strong earnings from chipmaker SK hynix lifted investor sentiment. Global investors were monitoring the 20th Central Committee's Fifth Plenum, which concludes on Thursday, October 29, 2026, for further policy signals and clarity on China's economic priorities. Meanwhile, market participants awaited the Federal Reserve's upcoming interest rate decision with expectations of a pause, but sticky services inflation and a relentless climb in long-term US Treasury yields kept the possibility of a December rate hike alive, adding structural borrowing pressures to the broader market.