Asian shares climbed to record highs on Wednesday, driven by AI optimism, while oil prices remained elevated as markets awaited a durable US-Iran truce.
The MSCI Asia-Pacific index rose 1.6% to an all-time high, Japan's Nikkei briefly topped 66,000 for the first time, and South Korea's KOSPI surged 3.4% after Samsung union workers approved a wage deal, averting a strike that could have rattled global chip supplies.
Oil prices fell slightly but stayed high after recent gains, with US crude at $92 a barrel and Brent at $98, as Iran accused the US of a "gross violation" of the ceasefire. US Secretary of State Marco Rubio indicated a deal could take "a few days" as Iran seeks the release of $24 billion in frozen funds.
In currency markets, the dollar was steady, while the New Zealand dollar jumped 0.7% after the RBNZ held rates at 2.25% but signaled earlier hikes. The Aussie weakened slightly after Australian CPI data appeared softer.
Central bankers in Tokyo warned about the risks of persistent inflation from the energy shock. Markets now look to Thursday's PCE data, the Fed's preferred inflation measure, which could influence rate expectations, the dollar, and gold.
Spot gold edged up 0.1% to $4,510 an ounce. In cryptocurrencies, bitcoin fell 0.4% to $75,711.