Asian stocks set for strongest annual jump in eight years on AI bets

Asian stocks drifted on the last trading day of a year that has seen investors brush off much of the tariff-related uncertainty and embrace AI chip stocks, while the dollar’s dismal year has left the euro and sterling standing tall. Precious metals have grabbed much of the spotlight toward the end of the year, with silver’s astonishing rally taking its yearly gains to more than 160% although the metal was 1% lower on Wednesday as traders booked profits. Gold firmed a bit and is on track for a 66% surge in 2025 as the three-year rally shows no signs of stopping. Japanese markets are closed for the rest of the week, and with most markets closed on Thursday for the New Year’s Day holiday, volumes are likely to be thin and moves muted. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.17% lower on Wednesday as investors weighed the minutes of the Federal Reserve’s December meeting that underscored deep divisions among policymakers about US rates.