Most Asian stock markets rose on Wednesday, with tech gains boosting South Korean and Japanese shares, while investors awaited the U.S. Federal Reserve policy decision due later in the day.
U.S. stock index futures also edged higher during Asian hours after major indexes closed marginally higher overnight.
Nikkei, KOSPI lead gains on tech boost
Tech stocks drove the advance after fresh announcements at Nvidia GTC 2026 reinforced optimism over AI demand, with chipmakers benefiting from new partnerships and product unveilings tied to next-generation computing.
South Korea's KOSPI surged 4%, with Samsung Electronics (KS:005930) and SK Hynix Inc (KS:000660) jumping between 4.5% and 6%.
Japan's Nikkei 225 climbed 2.5% while the broader TOPIX index also added more than 2%.
Investor sentiment was also supported by a slight pullback in crude prices in early trade on Wednesday.
However, geopolitical risks remained elevated. Israel killed Iran’s security chief, while Iran renewed strikes on oil facilities in the United Arab Emirates, underscoring the risk of prolonged supply disruptions through the Strait of Hormuz.
Fed decision looms; BOJ also on tap
Markets were cautious ahead of the Federal Reserve policy decision due later in the day, with expectations that the central bank will hold rates steady but maintain a hawkish stance.
Investors are closely watching comments from Chair Jerome Powell for signals on how policymakers view rising oil-driven inflation risks.
In Japan, data showed exports grew faster than expected, pointing to resilient external demand and lending support to equities.
Attention is also turning to the Bank of Japan, which is due to announce its rate decision on Thursday, with markets assessing the pace of policy normalization.
Elsewhere in Asia, Singapore's Straits Times Index rose 1%, while futures tied to India's Nifty 50 gained 0.5%.
Chinese stocks bucked the trend with the Shanghai Composite index dipping 0.4%, Hong Kong's Hang Seng index edging down 0.2%.
Australia's S&P/ASX 200 rose 0.3%, a day after the country's central bank hiked interest rates by 25 basis points in a widely expected move.
Source: Investing