Asian shares were mixed on Wednesday, with Japan and South Korean technology stocks advancing following a broad rally on Wall Street.
The Kospi in Seoul gained 3.3% to 5,735.66.
South Korean AI company Elice, whose 32% drop Tuesday in its first day of trading spooked markets, rebounded on Wednesday, hitting the upward limit of 29.9%.
Tokyo’s Nikkei 225 rose 0.9% to 64,621.24 after Japan reported that its exports jumped 16.7% in September from a year earlier, on strong sales of autos and computer-related components. Imports surged 18.9%, largely thanks to higher prices for oil due to the Iran war, nearly doubling Japan’s trade deficit for the same month a year earlier.
“Robust AI demand should continue to support tech-related goods exports. However, non-AI capital goods and auto are likely to weaken amid high energy prices and borrowing costs, weighing on overall exports,” Oxford Economics said in a report.
Markets in Greater China were mostly lower, with Hong Kong’s Hang Seng shedding 0.7% to 23,707.11, while the Shanghai Composite index fell 0.6% to 3,713.36. Taiwan’s Taiex rose 1.3%.
In Australia, the S&P/ASX 200 picked up 0.2% to 8,831.30.
