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Asian stocks surged in Wednesday’s session following gains on Wall Street a day earlier, with benchmark indexes in Japan and South Korea hitting record highs as technology shares led the rally, while precious metals also moved higher.
Japan’s Nikkei 225 rose over 2.2% to close at a record 58,583.12, extending momentum after all three major Wall Street indexes posted gains of about 1% a day earlier.
In South Korea, the Kospi crossed the 6,000 level for the first time, bringing its increase to over 40% this year after surging 76% in 2025.
Other regional markets also moved higher. Hong Kong’s Hang Seng Index climbed 0.5% to 26,733.30, while China’s Shanghai Composite gained 0.7% to finish at 4,147.23.
Precious metals rose during Asian trading as investors turned to safe-haven assets amid uncertainty surrounding U.S. trade policy.
By 7:30 a.m. GMT, gold rose 0.8% to $5,189 per ounce, while silver climbed 3.9% to move above $90.
Other metals also advanced, with palladium rising 0.8% to $1,800 and platinum jumping 4.7% to $2,270.
Energy markets followed a similar trend. Brent crude increased 0.7% to trade above $71 per barrel, and U.S. West Texas Intermediate crude rose 0.7% to $66.5.
Cryptocurrency markets also recovered after recent declines. Bitcoin gained 3% to return to the $65,000 level, while Ethereum rose 3.5% to $1,890.
The total cryptocurrency market increased 2.6%, reaching $2.25 trillion.
Trade policy in the United States remains in focus after Washington began collecting a temporary 10% global import tariff on Tuesday, with preparations also underway to raise the rate to 15%.
The move, which came in response to a U.S. Supreme Court ruling last week that struck down parts of President Donald Trump's global tariffs, also increased uncertainty over the future of bilateral trade agreements with major trading partners.
On the monetary policy front, market pricing pointed to expectations for three 25-basis-point rate cuts this year, according to CME’s FedWatch Tool.
In geopolitical developments, Trump said during his State of the Union address on Tuesday that he would not allow Iran to obtain a nuclear weapon and outlined the case for a possible attack, adding to market uncertainty over potential tensions in the Middle East, particularly in energy markets.
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