Asian stocks today: Nikkei adds over 700 points after US-Japan deal; markets in China, Korea remain shut

Asian equities edged higher on Wednesday as investors weighed developments in US-Iran nuclear discussions and fresh details of Japan’s investment commitments to Washington.Tokyo led regional gains, with the Nikkei rising 1.23% or 684 points to 57,250 at 10:07 am IST, after the United States confirmed the first batch of funding from the $550 billion Japan has pledged under its trade agreement with President Donald Trump. The initial package sets aside $36 billion for three infrastructure projects, part of commitments made in 2025 in exchange for lower US tariffs. The announcement has placed Japan under renewed scrutiny to follow through on its promises.Trading across much of Asia was muted because of public holidays, with exchanges in Hong Kong, Shanghai, Seoul and Taipei closed. Sydney posted marginal gains.In energy markets, prices steadied after sliding the previous day. West Texas Intermediate inched up 0.1% to $62.38 per barrel, while Brent crude rose by the same margin to $67.49.Oil had retreated on Tuesday after Tehran expressed optimism following talks with US officials over Iran’s nuclear programme. The decline came after prices had earlier climbed when President Trump intensified his rhetoric towards Iran, a significant crude producer.Iranian Foreign Minister Abbas Araghchi said "a new window of opportunity has opened"."We are hopeful that negotiation will lead to a sustainable and negotiated solution," he said, though he added that "Iran remains fully prepared to defend itself against any threat or act of aggression".Beyond markets, attention is also centred on artificial intelligence, as technology chiefs and world leaders gather in New Delhi for the AI Impact Summit. The five-day meeting, billed as its largest yet, seeks to outline a "shared roadmap for global AI governance and collaboration".While strong demand for generative AI has significantly boosted profits at a number of technology companies, concerns are increasing about the potential consequences for society and the environment.