Asia stocks rise despite lingering AI worries, oil down after US-Iran talks

Asian stocks pushed higher on Wednesday despite the renewed artificial intelligence worries gripping international markets, while oil prices were under pressure after Iran touted progress in nuclear negotiations with the United States. The New Zealand dollar sank after the central bank said monetary policy needs to remain accommodative for some time to support the economic recovery. Japan’s benchmark Nikkei 225 index rose 0.93% to 57,090.14, poised to snap a three-day skid, while Australia’s S&P/ASX200 was up 0.5%. Mainland China, Hong Kong, Singapore, Taiwan and South Korean were among markets closed for Lunar New Year holidays. The positive start in Asia followed a lacklustre session on Tuesday on Wall Street as investors grappled with the outlook for the AI boom. Concerns that companies are over-investing, along with angst about the extent to which the nascent technology could disrupt labor markets, have fuelled investor jitters in recent weeks.