Asian Stocks Rise Amid Ongoing Strait of Hormuz Talks and Declining Oil Prices

Asian stocks mostly rose on Wednesday as investors weighed developments in the Strait of Hormuz and the ongoing talks over reopening the waterway. Oil prices continued to decline, with U.S. crude falling $2.06 to $80.30 a barrel and Brent crude losing $2.31 to $86.27 a barrel.

The global interest in artificial intelligence (AI) remained strong, supporting regional stocks that benefit from the trend. Nvidia, set to report its latest earnings results on Wednesday, led the way with a 2.2% gain after dropping 2.9% the previous day.

Eric Schiffer of the Patriarch Organization expects demand for AI technology to continue growing despite some adjustments in the future, as companies and governments can't afford not to invest in AI to stay competitive.