Asian Stocks Rise Amid Ongoing Negotiations Over Strait of Hormuz

Asian stock markets generally rose on Wednesday as investors kept an eye on ongoing negotiations to reopen the Strait of Hormuz, which has been largely shut down due to the war in Iran.

The global interest in artificial intelligence continued to boost some regional issues, while declining oil prices helped fuel optimism in oil-importing nations like Japan, which imports virtually all its oil.

Nikkei 225 rose 0.7% in afternoon trading to 66,291.01. The S&P/ASX 200 dipped 0.4% to 9,127.80, while the Kospi jumped 1.3% to 6,833.06.

Tensions between the US and Iran seemed to escalate after the Trump administration announced new sanctions targeting Iran's economy.