Asian markets track Wall St bounce as Fed decision looms [Video]

Asian markets rose in holiday-thinned trade Wednesday, tracking a rally on Wall Street, where tech titans led by Nvidia recovered some of their hefty losses a day earlier as worries over Chinese AI startup DeepSeek subsided.

Investors were also awaiting the conclusion of the Federal Reserve’s policy meeting later in the day as well as earnings from the likes of Microsoft and Tesla over the coming days.

A sense of calm returned to trading floors after Monday’s rout, which was sparked by DeepSeek’s unveiling of its R1 chatbot that has apparently shown the ability to match the capacity of US AI pace-setters for a fraction of the investments made by American companies.

The news hammered tech firms Monday, with US chip giant and market darling Nvidia collapsing almost 17 percent and wiping almost $600 billion from its market capitalisation — a record single-day loss for a publicly traded company.

The …