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 Nikkei 225 recovered 577.35 points, or 1%, to 57,143.84.
Japan’s annual bond issuance will likely surge 28% three years from now due to rising debt-financing costs, Reuters reported on Tuesday, citing a finance ministry estimate.
Japan would need to issue up to 38 trillion yen ($248.3 billion U.S.) worth of bonds in the fiscal year starting in April 2029 to fill a hole from expenditures surpassing tax revenues, up from 29.6 trillion yen in fiscal 2026, the report said.
The yen firmed 0.1% to 153.12 per dollar.
The positive start in Asia followed a lackluster session on Tuesday on Wall Street as investors grappled with the outlook for the AI boom.
The New Zealand dollar sank after the central bank said monetary policy needs to remain accommodative for some time to support the economic recovery.
In other markets
In Taiwan, Hong Kong, Shanghai, Korea, Taipei and Singapore, markets were shuttered for the Lunar New Year
In Australia, the ASX gained 48.11 points, or 0.5%, to 9,006.98.
In New Zealand, the NZX 50 restocked 215.4 points, or 1.7%, to 13,247.02.
