<div id="readability-page-1" class="page">Investing.com- Asian stocks rose on Wednesday, aided by growing hopes for a de-escalation in the U.S.-Iran war, while an AI-fueled rally in technology shares drove South Korea to record highs. Broader Asian markets were also upbeat, with Chinese shares reopening on stronger footing, while Australian stocks recovered after logging a series of declines on a hawkish Reserve Bank. [[pro_promotion |Get more key insights on Asia stocks and the Iran war by subscribing to InvestingPro]] Japanese markets were closed for the day. Asian markets took positive cues from a record-high overnight close on Wall Street, as investors were encouraged by U.S. and Iranian officials flagging progress in negotiations. U.S. President Donald Trump said on Tuesday evening that Washington was pausing an operation aimed at escorting ships through the Strait of Hormuz, and that a comprehensive deal with Iran was close. His comments caused sharp losses in oil prices, amid growing hopes that an end, or at least a de-escalation in the conflict was close. In Asia, China’s Shanghai Shenzhen CSI 300 and SSEC indexes both rose over 1% each as trade resumed after a long weekend. Stronger-than-expected private purchasing managers index data for April– which showed a pick up in services activity– also helped. Hong Kong’s Hang Seng added 0.9%, aided by gains in tech. Australia’s ASX 200 added 0.9%, recovering after falling for 10 of the past 11 sessions. The Reserve Bank of Australia raised interest rates on Tuesday and presented a hawkish outlook, especially in the face of inflationary risks from the Iran conflict. Futures for India’s Nifty 50 index rose 0.3%. S.Korea’s KOSPI rallies to record high as AI cheer fuels chipmakers South Korea’s KOSPI was by far the best performer in Asia, rallying nearly 7% to a record high of 7,411.62 points. The KOSPI was boosted chiefly by gains in chipmaking stocks, after industry major AMD (NASDAQ:AMD) clocked strong overnight earnings and flagged an upbeat outlook for the industry. Samsung Electronics Co Ltd (KS:005930) was a standout performer, rallying nearly 14%, with the memory chip maker’s valuation crossing $1 trillion for the first time ever. SK Hynix Inc (KS:000660) also soared over 10%, hitting a record high. The have benefited greatly from AI-fueled demand over the past year, with prices of their advanced memory products also accelerating sharply due to supply shortages. Beyond chipmakers, South Korean markets were also encouraged by consumer price index inflation data showing inflation rose within expectations in April. ING said the print indicated that Bank of Korea measures to curb inflation were yielding results. </div>

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Asian stocks rose on Wednesday, driven by optimism over U.S.-Iran negotiations and a tech rally in South Korea, which hit a record high. The KOSPI surged nearly 7% to 7,411.62 points, led by strong performances from chipmakers like Samsung Electronics and SK Hynix. Broader Asian markets also saw gains, with Chinese shares up over 1% and Australian stocks recovering after recent declines. U.S. President Trump’s comments on a potential Iran deal contributed to a decline in oil prices, further boosting market sentiment.

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Asia stocks rise as Trump flags Iran deal; S.Korea hits record high on tech rally