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Japan and Australian stocks rose Wednesday as Wall Street rebounded overnight, while several Asia-Pacific markets were closed for the Lunar New Year holiday.
Japan benchmark Nikkei 225 rose 0.62%, while the Topix advanced 0.39%, after closing lower in the previous session.
Australia’s S&P/ASX 200 rose 0.75%, also reversing course after losses in the previous session.
The country’s inflation rose 0.2% in the December quarter and 2.4% annually, below the 2.5% estimated by economists polled by Reuters, data from the Australian Bureau of Statistics showed.
Overnight in the U.S., key indexes recovered some ground from the sell-off sparked by the challenge posed by Chinese artificial intelligence startup DeepSeek to the U.S. AI ecosyetem.
The S&P 500 advanced 0.92% to 6,067.70, led by gains in technology shares. The Technology Select Sector SPDR Fund (XLK) rose more than 2%, following a 4.9% loss on Monday. The Nasdaq Composite surged 2.03% to 19,733.59, following a 3.1% decline a day ago.
The Dow Jones Industrial Average added 136.77 points, or 0.31%, to 44,850.35.
All eyes were on Nvidia which picked up momentum to close around nearly 9% higher. The chipmaker lost 17%, or almost $600 billion in market value, in the previous session to clock the biggest ever one-day drop in value for a U.S. company.
Other tech giants like Broadcom and Oracle ended Tuesday’s trading day up 2.6% and 3.6%, respectively, following steep losses Monday.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
