TOKYO — Stock markets across Asia moved largely upward on Wednesday, buoyed by a strong performance on Wall Street the day before, even as climbing oil prices kept investors on edge over inflation.
Japan’s Nikkei 225 benchmark jumped 1.9% to finish at 67,511.12. The gain came after the Japanese government announced that both imports and exports increased last month compared to the same period a year ago. A weakening yen played a role, boosting the value of those figures when converted from dollars into yen.
Elsewhere in the region, Australia’s S&P/ASX 200 edged up 0.4% to 8,830.60, while South Korea’s Kospi surged 4.6% to reach 7,061.36. Hong Kong’s Hang Seng slipped 0.7% to 24,947.30, and China’s Shanghai Composite gained nearly 0.5%, closing at 3,882.95.
The positive Asian session followed another winning day on Wall Street, where artificial intelligence-related stocks led the charge for a second consecutive day. The S&P 500 climbed 0.9%, the Dow Jones Industrial Average added 385 points — a gain of 0.7% — and the Nasdaq composite rose 1.3%.
AI stocks had taken a beating the prior week but bounced back strongly. Chipmaker Micron Technology surged 12.2%, building on a 1.9% gain from the previous session after falling 13.3% last week. Nvidia added 2%, and the two companies were the biggest drivers behind the S&P 500’s advance.
The rally came even as oil prices continued to climb, fueled by ongoing military exchanges between the United States and Iran. In early Wednesday energy trading, U.S. benchmark crude rose 85 cents to $85.19 per barrel, while Brent crude — the international pricing standard — climbed $1.04 to $92.05 per barrel.
Analyst Stephen Innes, a former trader, explained the challenge rising oil poses for Japan specifically. “Oil makes the situation more difficult because Japan imports most of its energy. A weaker yen and higher crude prices arrive together like two waves hitting the same seawall,” he said.
On the currency front, the U.S. dollar held steady at 163.14 Japanese yen. The euro edged slightly higher to $1.1406 from $1.1404.
The broader concern is that climbing oil prices could reignite inflation just as price increases had been cooling faster than many economists anticipated. If inflation picks back up, the Federal Reserve and other central banks around the world may feel pressure to raise interest rates again — a move that tends to slow economic growth and weigh on stock and investment values.
