Asian equities climb as oil eases and AI optimism builds

Early Wednesday trading saw the majority of Asian stock markets rise, led by a 0.6% increase in Japan's one outlet and a 1.6% surge in South Korea's Kospi, while Australia's ASX edged lower. Declining global oil prices lifted mood in oil-dependent nations, and AI hype, exemplified by Nvidia's pre-earnings rally, further buoyed equities. Ongoing diplomatic efforts aimed at reopening the Strait of Hormuz included meetings between Iranian and Omani officials and talks between Pakistan and Iran.

The U.S. 10-year Treasury yield fell from earlier levels, reflecting easing inflation concerns. On Wall Street, major indices also posted gains, with the S&P 500, Dow Jones, and Nasdaq all advancing.