Asia stocks mixed: AI surge and cautious US-Iran peace hopes buoy market sentiment

[Viewing the stock board displayed on the electronic bulletin board in the business district]
chachamal

Asian equities traded mixed on Wednesday following a tech-led rally on Wall Street overnight, with stocks in Japan and South Korea leading regional gains. Renewed optimism surrounding artificial intelligence and related technologies continued to drive the market higher. Investors were also cautiously optimistic that the US and Iran could strike a peace deal despite fresh hostilities in the Middle East.

Gold prices stabilized near $4,500 an ounce.

WTI crude futures fell to around $92 per barrel

The benchmark KOSPI surged more than 4% to around 8,420. Strong overnight gains on Wall Street fueled heavy buying in Samsung Electronics (6.4%) and SK hynix (9.9%), with SK hynix joining rivals Samsung Electronics and Micron Technology in the $1 trillion market capitalization club.

Japan's (NKY:IND [https://seekingalpha.com/symbol/NKY:IND]) rose 0.58% to above 65,800 while the broader Topix Index gained 0.3% to 3,950, and the Japanese yen [https://seekingalpha.com/symbol/USD:JPY#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Afull_story%7Cbutton%3Abody_link] weakened beyond 159 per dollar.

China's (SHCOMP [https://seekingalpha.com/symbol/SHCOMP]) fell 1.11% to 4,151, while the Shenzhen Component advanced 0.5% to 15,957, and the offshore yuan [https://seekingalpha.com/symbol/USD:CNY#source=url_first_level%3Amarket-news%7Csection%3Aglobal%7Csection_asset%3Afull_story%7Cbutton%3Abody_link] edged higher to around 6.78 per dollar.

Industrial profits in China jumped 18.2% year-on-year in January–April 2026, supported by robust demand for Chinese electronics and elevated oil prices linked to Middle East tensions.

Hong Kong (HSI [https://seekingalpha.com/symbol/HSI]) fell 0.89% to around 25,480 in early trading.

India (SENSEX [https://seekingalpha.com/symbol/SENSEX]) rose 0.03% around 75,900, following a decline in the previous session.

Australia (AS51 [https://seekingalpha.com/symbol/AS51#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]) rose 0.28% to around 8,648, extending losses from the previous session. The Australian dollar edged down to around $0.71.

Australia’s annual consumer price inflation [https://seekingalpha.com/news/4597208-australia-headline-inflation-beats-expectations-easing-to-42] slowed more sharply than anticipated in April, cooling to 4.2% from March's 4.6% print and beating market expectations for a milder drop to 4.4%.

Total construction work in Australia grew by 3.4% quarter-on-quarter to A$83,360.6 million in Q1 2026, surpassing market expectations of a 0.8% increase and the previous period’s revised 0.2% rise.

In the U.S. on Tuesday, all three major indexes ended mostly higher [https://seekingalpha.com/news/4596874-wall-street-pushes-higher-on-hopes-of-u-s-iran-conflict-resolution] as investors returned from the long weekend with continued focus on developments in the Middle East.

U.S. stock futures edged higher, supported by continued strength in technology shares: Dow +0.09%; S&P 500 +0.05%; Nasdaq +0.10%.

CURRENCIES: (JPY:USD [https://seekingalpha.com/symbol/JPY:USD]), (CNY:USD [https://seekingalpha.com/symbol/CNY:USD]), (AUD:USD [https://seekingalpha.com/symbol/AUD:USD]), (INR:USD [https://seekingalpha.com/symbol/INR:USD]), (HKD:USD [https://seekingalpha.com/symbol/HKD:USD]), (NZD:USD [https://seekingalpha.com/symbol/NZD:USD]).

MORE ON ASIA MARKETS:

* Australia headline inflation beats expectations, easing to 4.2% [https://seekingalpha.com/news/4597208-australia-headline-inflation-beats-expectations-easing-to-42#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title]
* OpenAI IPO Will Be An Artificial Intelligence Bubble Litmus Test [https://seekingalpha.com/article/4907222-openai-ipo-will-be-an-artificial-intelligence-bubble-litmus-test]
* China Warns U.S. Of Clashes, But For Both The Biggest Challenges Are Domestic [https://seekingalpha.com/article/4905358-china-warns-us-of-clashes-but-for-both-biggest-challenges-are-domestic]
* Asian equities mixed after U.S. strikes temper Middle East optimism; KOSPI defies trend to hit record high [https://seekingalpha.com/news/4596684-asian-equities-mixed-after-us-strikes-temper-middle-east-optimism-kospi-defies-trend-to-hit-record-high]
* Asia markets rally, Nikkei surges 3% to fresh record highs, and oil plunges below $100 on hopes of US-Iran peace deal [https://seekingalpha.com/news/4596496-asia-markets-rally-nikkei-surges-3-to-fresh-record-highs-and-oil-plunges-below-100-on-hopes-of-us-iran-peace-deal]