China Stocks Rise Amid Tech Gains and Iran Ceasefire Hope

In a promising development, China stocks surged close to a three-month high on Wednesday, buoyed by significant movements in the artificial intelligence and chip sectors.

The temporary extension of the Iran ceasefire provided a cautious relief, with peace negotiations still uncertain. By midday trading, the blue-chip CSI300 index had ascended 0.3%, nearing its peak since January. The Shanghai Composite index, too, saw a modest increase.

Further east, U.S. President Donald Trump's announcement of an indefinite Iran ceasefire extension fueled optimism, though the agreement of Middle Eastern nations remains unclear, affecting regional markets differently.

(With inputs from agencies.)