CANBERA (dpa-AFX) - Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, boosted by strong gains in technology stocks which mirrored their peer on the tech-heavy Nasdaq amid easing concerns over potential artificial intelligence disruptions. Traders also remain concerned about the lingering uncertainty about US President Donald Trump's tariff policies. Asian markets closed mostly higher on Tuesday.
Concerns about the disruptive effects of AI eased somewhat after AI startup Anthropic PBC emphasized partnerships with companies, adding its Claude chatbot technology will integrate with, rather than displace, existing businesses.
It is also believed that a uniform 15 percent global tariff, announced by Trump, would benefit some Asia-Pacific economies that have faced much steeper tariff rates.
Australian shares are trading sharply higher on Wednesday, snapping a three-session losing streak, with the benchmark S&P/ASX 200 moving above the 9,100 level, following the broadly positive cues from Wall Street overnight, with gains across most sectors led by mining and technology stocks.
The benchmark S&P/ASX 200 Index is gaining 105.60 points or 1.17 percent to 9,127.90, after touching a high of 9,127.90 earlier. The broader All Ordinaries Index is up 112.40 points or 1.22 percent to 9,356.70. Australian stocks ended slightly lower on Tuesday.
Among major miners, BHP Group and Fortescue are adding more than 2 percent each, while Rio Tinto is gaining almost 2 percent and Mineral Resources is advancing almost 1 percent.
Oil stocks are mixed. Woodside Energy is gaining more than 1 percent, while Origin Energy, Santos and Beach energy are losing almost 1 percent each.
In the tech space, Afterpay owner Block is gaining more than 2 percent, Zip is jumping more than 9 percent, Xero is advancing more than 5 percent, Appen is soaring almost 16 percent and WiseTech Global is surging almost 11 percent.
Among the big four banks, Westpac and National Australia bank are gaining more than 1 percent each, while ANZ Banking and Commonwealth Bank are adding almost 1 percent each.
Among gold miners, Evolution Mining is gaining more than 3 percent, Resolute Mining is advancing almost 4 percent, Northern Star Resources is up more than 2 percent, Newmont is adding almost 1 percent and Genesis Minerals is rising more than 1 percent.
In other news, shares in Woolworths are surging almost 12 percent after the supermarket posted upbeat first-half results. It also raised interim dividend 15.4 percent.
Shares in Helia are soaring almost 19 percent after the mortgage insurer reported upbeat results for the full year 2025. It also boosted final dividend and declared a special dividend.
In economic news, consumer prices in Australia were up a seasonally adjusted 3.8 percent on year in January, the Australian Bureau of Statistics or ABS said on Wednesday - unchanged from the December reading following an upward revision from 3.6 percent. On a seasonally adjusted monthly basis, inflation rose 0.5 percent. Trimmed mean inflation was 3.4 percent, up from 3.3% in the 12 months to December 2025. The weighted mean was steady at 3.8 percent.
The ABS also said the value of construction work done in Australia was down a seasonally adjusted 0.1 percent on quarter in the fourth quarter of 2025, the Australian Bureau of Statistics said on Wednesday - coming in at A$80.011 billion. That was well shy of expectations for an increase of 1.2 percent following the 0.7 percent decline in the previous three months. On a yearly basis, construction work was up 3.0 percent.
In the currency market, the Aussie dollar is trading at $0.708 on Wednesday.
The Japanese stock market is trading sharply higher on Wednesday, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 58,100 level, with gains in index heavyweights, automakers and technology stocks partially offset by weakness in financial stocks.
The benchmark Nikkei 225 Index closed the morning session at 58,145.08, up 823.99 points or 1.44 percent, after touching an all-time record high of 58,227.08 earlier. Japanese stocks ended significantly higher on Tuesday.
Market heavyweight SoftBank Group is gaining 1.5 percent and Uniqlo operator Fast Retailing is edging up 0.1 percent. Among automakers, Honda is gaining almost 1 percent and Toyota is adding more than 1 percent.
In the tech space, Advantest is gaining more than 2 percent, Screen Holdings is jumping almost 6 percent and Tokyo Electron is advancing almost 3 percent.
In the banking sector, Mizuho Financial is declining almost 4 percent, while Sumitomo Mitsui Financial and Mitsubishi UFJ Financial are losing almost 2 percent each.
Among the major exporters, Mitsubishi Electric is declining more than 3 percent and Sony is edging down 0.1 percent, while Canon is edging up 0.2 percent and Panasonic is gaining more than 2 percent.
Among other major gainers, BayCurrent is soaring more than 7 percent, Nomura Research Institute is jumping more than 6 percent and Japan Exchange Group is surging almost 6 percent, while Keyence and Sumitomo Metal Mining are gaining more than 5 percent each. Konami Group, Taiyo Yuden, NEC, Disco, Socionext and Yaskawa Electric are advancing almost 4 percent each, while Fuji Electric, Lasertec and M3 are adding almost 3 percent each.
Conversely, Nippon Steel is tumbling more than 5 percent and Takashimaya is slipping almost 5 percent, while Sumitomo Chemical, IHI, Tokyo Electric Power and Resona Holdings are declining more than 4 percent each. Shizuoka Financial, Chiba Bank and JFE Holdings are sliding almost 4 percent each, while Mitsubishi Heavy Industries, Japan Post, Nitori Holdings and ENEOS Holdings are down more than 3 percent each.
In economic news, producer prices in Japan were up 2.6 percent on year in January, the Bank of Japan said on Wednesday. That was in line with expectations and unchanged from the December reading. On a monthly basis, producer prices slipped 0.5 percent following the flat reading in the previous month. Excluding international transportation, producer prices also were down 0.5 percent on month and up 2.6 percent on year.
In the currency market, the U.S. dollar is trading in the higher 155 yen-range on Wednesday.
Elsewhere in Asia, South Korea and Taiwan are up 1.9 and 1.5 percent, respectively. New Zealand, China, Hong Kong and Indonesia are higher by between 0.1 and 0.8 percent each. Singapore and Malaysia are down 0.1 and 0.3 percent, respectively.
On the Wall Street, stocks showed a strong move back to the upside during trading on Tuesday following the sell-off seen in the previous session. The major averages all moved notably higher, with the tech-heavy Nasdaq leading the way.
The major averages ended the day not far off their highs of the session. The Nasdaq jumped 236.41 points or 1.0 percent to 22,863.68, the Dow advanced 370.44 points or 0.8 percent to 49,174.50 and the S&P 500 climbed 52.32 points or 0.8 percent to 6,890.07.
Meanwhile, the major European markets ended the day mixed. While the French CAC 40 Index rose by 0.3 percent, the German DAX Index and the U.K.'s FTSE 100 Index both closed marginally lower.
Crude oil prices fell slumped Tuesday as traders continue to evaluate the potential turbulence in the trade tariff environment following the U.S. Supreme Court's ruling on reciprocal tariffs. West Texas Intermediate crude for April delivery sank $0.71 or 1.1 percent to $66.31 a barrel.
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