Precise Investors Editorial Team
Nikkei 225 climbed around 2% to a record high of 58,319.0 points, while KOSPI rallied more than 2% to a record high of 6,122.98 points
Most Asian stocks rose on Wednesday with Japanese and South Korean shares rallying to record highs on strength in technology stocks.
Australian shares also hit a record high, as strong earnings from index heavyweight Woolworths helped markets rise past hotter-than-expected inflation data for January.
Chinese stocks extended their gains after returning from the Lunar New Year holiday on strong footing on Tuesday, while Hong Kong benefited from a recovery in tech.
Nikkei 225 climbed around 2% to a record high of 58,319.0 points, while KOSPI rallied more than 2% to a record high of 6,122.98 points.
Both indexes benefited from strength in tech shares, with the Nikkei also taking support from gains in export-oriented sectors, amid weakness in the yen.
In South Korea, Hyundai Motor rallied 10%, coming close to a record high.
Memory chip giants Samsung Electronics Co Ltd and SK Hynix Inc added nearly 2% apiece, hitting record highs.
Concerns over AI-related disruptions were a major weight on global stocks in recent weeks, with Asian markets– especially those in Hong Kong– logging steep losses.
Hang Seng added 0.8% on Wednesday, with tech names recouping a measure of recent losses.
ASX 200 also hit a record high on Wednesday, gaining more than 1% to a high of 9,130.30 points.
The ASX was buoyed by gains in retail giant Woolworths Ltd, after it clocked strong half-year earnings and said the current half was off to a good start.
Shanghai Shenzhen CSI 300 and Shanghai Composite indexes added 1.2% apiece, extending gains after a strong session on Tuesday. Markets returned from the Lunar New Year holiday on stronger footing, amid cheer over increased consumer spending during the break.
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