Asia markets rise on better AI sentiment, Trump speech awaited

Asia’s financial markets were higher on Wednesday with Korean chipmakers leading gains, as investors double down on what they see as the safest bet on artificial intelligence (AI), while the yen remained in focus. Investors rocked by volatility in recent months were also awaiting U.S. President Donald Trump’s State of the Union speech on Tuesday evening in Washington. Market participants are bracing for comments that could touch on policies from trade to affordability to Iran. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 1% higher in early trading.Japan’s Nikkei set a record high. It was up 1.1% at 57,956.92 in early trade after touching an intraday peak of 58,047.89. The broader Topix edged up 0.07% to 3,818.73. Korea’s KOSPI was nearly 1.7%, trading above 6,000 for the first time. The index is up 44% so far this year. A global memory chip shortage has seen Samsung Electronics and SK Hynix stock prices double since October, as cash has surged up the AI supply chain to the enormously popular chipmakers.