FX.co ★ Asian Stocks Mostly Rise

Asian equity markets mostly advanced on Wednesday, led by a gain of more than 4% in South Korea’s KOSPI Composite Index after SK Hynix and Samsung Electronics rallied on reports that Singapore’s state-owned investment firm, Temasek Holdings, plans to acquire stakes in both companies. Sentiment was further bolstered by upbeat outlooks from CoreWeave and Super Micro Computer, which continue to benefit from the ongoing artificial intelligence investment boom. Technology-heavy indices in Japan and China also rose, while shares in Australia and Hong Kong lagged. On the geopolitical front, investors weighed the prospects of a US-Iran agreement to reopen the Strait of Hormuz, after Pakistan’s defense minister said Washington and Tehran are “close to some sort of arrangement.”