Asian markets mixed as CoreWeave lifts chipmakers, US inflation weighs

Asian stocks were mixed Wednesday as semiconductor shares rose in Japan, South Korea, and Taiwan, while tech stocks in Hong Kong and China fell. Strong CoreWeave results supported AI trading, but higher-than-expected US inflation reignited concerns about further Federal Reserve rate hikes. The MSCI Asia Pacific Index rose up to 0.8%, extending its strongest two-day rally in over three months. South Korea's KOSPI gained 1.8%, Japan's Nikkei 225 rose 1.2%, and Taiwan Semiconductor Manufacturing climbed 2.63%. CoreWeave shares rose about 2% after beating quarterly estimates and raising its annual forecast, signaling strong demand for computing capacity. US October consumer prices rose 0.4% month-over-month, exceeding expectations for a third straight month, with markets pricing a quarter-point Fed rate hike in December. Chinese tech losses were led by NetEase, MiniMax, and Meituan, while SoftBank Group fell 11% after reporting a ¥1.12 trillion quarterly loss.