Asian Stocks Rise

Asian equity markets mostly advanced on Wednesday, led by a more than 4% surge in South Korea’s KOSPI Composite Index as SK Hynix and Samsung Electronics rallied following reports that Singaporean state-owned investment firm Temasek Holdings plans to acquire stakes in the two companies.

Sentiment was further supported by upbeat outlooks from CoreWeave and Super Micro Computer, as both companies continue to benefit from the ongoing artificial intelligence spending boom.

Technology-heavy benchmarks in Japan and China also climbed, while shares in Australia and Hong Kong lagged.