Asian Stocks Rise on Tech Gains, Fed Hawkishness

Asian stock markets saw gains, primarily fueled by positive developments in the technology sector, specifically Nvidia's multiyear deal to supply artificial intelligence chips to Meta Platforms. This news provided a much-needed boost to tech stocks after a recent sell-off. Concurrently, geopolitical tensions between the United States and Iran continued to influence commodity markets, keeping oil prices supported due to concerns over potential supply disruptions, while Gold benefited from safe-haven flows. In currency markets, the United States===United States dollar strengthened after minutes from the United States===Federal Reserve's January meeting revealed policymakers were not inclined to cut rates and were open to hikes if inflation persisted. This hawkish outlook from the United States===Federal Reserve put pressure on other major currencies like the United Kingdom===Pound sterling, Japan===Japanese yen, and European Union===Euro, with the latter also affected by news of European Union===European Central Bank President Christine Lagarde's potential early departure. The New Zealand===New Zealand dollar also tumbled after its central bank tempered hawkish expectations.