Asian Stocks Soar on AI Demand as Oil Prices Drop Amid Middle East Supply Boost

Asian stocks surged on Wednesday, driven by renewed consumer demand for AI applications and a rally in technology shares. The MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3%, marking its sixth consecutive day of gains.

Samsung led the charge, with its stock up over 2% as South Korean tech firms continued to benefit from strong consumer interest in AI apps. Taiwan stocks also neared record highs, while Chinese blue chips eased 0.5%.

Oil prices, however, fell further on reports of increased supply out of the Middle East, with Brent futures slipping 0.9% to $98.37 a barrel and US crude dropping 1.3% to $89.32 a barrel.