BEIJING (dpa-AFX) - Asian stocks ended mixed on Wednesday as tensions escalated in the Middle East following another round of strikes on energy infrastructure.
That said, tech stocks extended recent gains as OpenAI's launch of its latest model, GPT- Astra, boosted investor optimism about AI growth prospects.
The U.S. dollar extended losses for a third straight session ahead of U.S. inflation data due later in the week, which could offer additional clues on the Federal Reserve's rate trajectory.
Gold rose more than 1 percent to $4,409 an ounce after falling for three straight sessions.
Brent crude prices rose toward $100 a barrel as renewed tensions in the Gulf region raised concerns about further disruptions to global oil supplies.
Iran has launched a barrage of missiles targeting U.S. military positions in Jordan and warned all tanker crews in Bahraini and Kuwaiti to 'immediately abandon their vessels', whether at anchor or at berth in ports, after the U.S. destroyed five Iranian tankers in the Gulf of Oman and near Kharg Island, a major crude export hub.
A U.S. official said the strikes came in response to alleged attempts by Iran to target a U.S. warship with ballistic missiles twice over two days.
China's Shanghai Composite index rose 0.28 percent to 3,951.51 while Hong Kong's Hang Seng index dipped 0.17 percent to 25,274.96 as August inflation data highlighted an uneven recovery.
Data showed earlier in the day that China's consumer inflation accelerated for the first time since April in August and factory-gage prices grew faster than expected, driven largely by higher commodity and food prices.
Japanese markets fluctuated before ending slightly lower, with rising oil prices and caution ahead of U.S. CPI inflation report weighing on sentiment.
The Nikkei average slipped 0.19 percent to 65,142.78 on concerns over inflation and supply chain disruptions. The broader Topix index finished marginally lower at 4,046.64.
Tech stocks ended mixed, with Kioxia falling 0.7 percent and Advantest tumbling 2.8 percent while SoftBank Group shares advanced 3.9 percent.
The yen held near a seven-month high after U.S. Treasury Secretary Scott Bessent challenged traders to counter his efforts to strengthen Japan's currency.
Seoul stocks ended sharply higher, with chip stocks leading the rally after the Philadelphia Semiconductor Index rose 1.3 percent overnight.
The Kospi index surged 1.40 percent to 7,051.64, with SK Hynix climbing 3.5 percent on continued optimism over artificial intelligence.
Battery maker LG Energy Solution jumped 6.5 percent and its smaller rival Samsung SDI soared 8.3 percent after the Trump administration criticized Ford Motor over its ties with Chinese companies, raising hopes that Korean electric vehicle battery makers could benefit.
Australian markets swung between gains and losses before closing modestly lower, dragged down by banks, retailers and health care stocks.
The benchmark S&P/ASX 200 slipped 0.11 percent to 8,911.40, hitting a six-week low on concerns over oil-driven inflation. The broader All Ordinaries index ended 0.13 percent lower at 9,102.90.
Across the Tasman, New Zealand's benchmark S&P/NZX-50 index rose 0.19 percent to 13,819.43, snapping a two-session losing streak.
U.S. stocks closed lower overnight as traders returned from the Labor Day holiday. The Dow tumbled 1.2 percent, the S&P 500 shed 0.6 percent and the tech-heavy Nasdaq Composite dropped 0.3 percent as higher energy prices and rising bond yields clouded the outlook for inflation and the Federal Reserve's rate path.
Renewed trade tensions between the U.S. and Canada also weighed on sentiment as Canada matched U.S. tariffs 'dollar-for-dollar', impacting 700 products and multiple industries.
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