Asian stock markets mostly advanced on Wednesday, driven by strong gains in technology and AI-related shares as investors positioned ahead of key U.S. megacap earnings and the Federal Reserve’s highly anticipated interest rate decision. Positive sentiment from Wall Street, where the S&P 500 touched fresh record highs and the Nasdaq extended recent gains, provided a supportive backdrop for regional equities.
Investor confidence was boosted by continued optimism around corporate earnings and sustained demand linked to artificial intelligence. U.S. stock index futures traded higher during Asian hours, with Nasdaq futures climbing around 0.6%, signaling expectations of further strength in technology stocks. Markets are closely watching earnings from Microsoft, Meta Platforms, and Tesla later in the day, while Apple is scheduled to report results on Thursday. These reports are expected to offer important insights into AI-driven revenue growth, cloud demand, and capital expenditure trends.
In Asia, South Korea and Hong Kong led regional gains. South Korea’s KOSPI surged as much as 2%, supported by strong moves in heavyweight semiconductor stocks, with Samsung Electronics rising 1.5% and SK Hynix jumping about 5%. Hong Kong’s Hang Seng Index climbed 2.4%, while the Hang Seng TECH Index added 1.5%, reflecting renewed interest in technology and internet-related shares. Mainland Chinese markets also edged higher, with the CSI 300 and Shanghai Composite Index both gaining around 0.5%.
Elsewhere, futures linked to India’s Nifty 50 rose approximately 0.3%, indicating a positive open. However, not all markets participated in the rally. Singapore’s Straits Times Index slipped 0.5%, while Australia’s S&P/ASX 200 edged down 0.2%. Japanese stocks underperformed, with the Nikkei 225 falling 0.6% and TOPIX declining 1%, pressured by a stronger yen near three-month highs. The firm yen has fueled concerns over export competitiveness and overseas profit translation, although losses were capped by gains in AI-linked stocks such as Renesas Electronics and SoftBank.
Market attention now turns to the Federal Reserve, which is widely expected to keep interest rates unchanged. Traders will closely analyze the policy statement and Chair Jerome Powell’s comments for clues on potential rate cuts later this year, which could shape risk appetite, currency movements, and Asian stock market trends in the weeks ahead.


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