Asian stock markets largely rose on Wednesday, tracking a rally on Wall Street led by artificial intelligence-related shares, while US stock futures posted modest gains and oil prices increased by more than 1%.

South Korea's Kospi jumped 6.8% to finish at 6,023.73, buoyed by strong performances from semiconductor companies.

SK Hynix shares surged 11.4% to their highest level in two weeks after the memory chipmaker reported a record operating profit of 83.3 trillion won ($62.8 billion) for the previous quarter. The profit was almost seven times its level a year earlier and surpassed analysts' forecasts.

Samsung Electronics advanced 9.1% ahead of its third-quarter earnings report due Thursday.

Japan's Nikkei 225 climbed 1.1% to 63,954.19, while Kioxia Holdings gained 9.6% ahead of its quarterly results scheduled for Friday. Investors are also awaiting the Bank of Japan's two-day policy meeting beginning Thursday, with interest rates widely expected to remain unchanged.

Hong Kong's Hang Seng Index recovered 0.2% to 23,089.22 after slipping earlier, while the Shanghai Composite Index rose 0.5% to 3,666.50. Taiwan's Taiex added 2%.

In New Zealand, the Reserve Bank surprised markets by maintaining its benchmark interest rate at 2.75%. The S&P/NZX 50 Index edged up 0.1%.