Asian shares advance on OpenAI’s US deal

Asian stocks mostly increased on Wednesday, particularly in the technology sector, following OpenAI’s announcement of a significant partnership to expand artificial intelligence infrastructure in the United States.

However, Chinese markets underperformed, experiencing a significant decline following US President Donald Trump’s mention of potential trade tariff increases on the country as early as February.

This week, attention is also being paid to a Bank of Japan (BOJ) meeting, with expectations of an interest rate hike due to the improving economic growth and increasing inflation.

Tech-focused Asian stock markets performed well on Wednesday, with Japan’s Nikkei 225 index gaining 1.5 per cent and South Korea’s KOSPI increasing by 0.6 per cent.

Chipmaking companies like Advantest Corp., Tokyo Electron Ltd, and SK Hynix Inc saw their stocks rise by 2.2 per cent to four per cent. Japan’s economic market was particularly strong, with tech-heavy stocks leading the way.

Attribution: Investing.com

Subediting: M. S. Salama

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