Asian Shares Rise on Falling Oil Prices and AI Optimism

Asian shares mostly rose Wednesday as oil prices fell and AI optimism boosted markets, while investors monitored talks over reopening the Strait of Hormuz, largely shut due to the Iran war. Japan's Nikkei gained 0.6%, South Korea's Kospi jumped 1.6%, and Hong Kong's Hang Seng rose 0.8%. Oil prices continued declining, with U.S. crude dropping $2.06 to $80.30 a barrel and Brent losing $2.31 to $86.27, aiding oil-importing nations like Japan. Iran and Oman diplomats met Tuesday to discuss managing ship traffic through the strait after an oil tanker was disabled in an attack off Oman. On Wall Street, Nvidia rose 2.2% ahead of its earnings report Wednesday, leading AI-related gains. The S&P 500 rose 24.42 points to 7,677.28, while the 10-year Treasury yield fell to 4.63%. Pakistan also held talks with Iran's president on reviving negotiations to end the conflict.