Asian Stocks Rise on Optimism for AI, Dollar Stays Steady – Asia Market Wrap

Wednesday saw a rise in Asian stocks following another record-breaking session on Wall Street for US stocks, thanks to a rally in chipmakers.

Chip and artificial intelligence-related stocks led the 0.8% increase in the MSCI Asia Pacific index. Leading chipmakers in Taiwan and South Korea drove up 1.5% and 1% of their respective share prices.

As traders processed statements at the Lujiazui Forum, whose speakers included People’s Bank of China Governor Pan Gongsheng and Securities regulator chief Wu Qing, mainland Chinese equities fell, with Hong Kong stocks leading the advances in the area.

Japan’s exports increased at their quickest rate since late 2022 as a result of the weakening yen. The yen had not moved much following a four-session decline.