Asian stock markets surged on Wednesday, matching record gains on Wall Street the previous day as investor confidence in AI tech and coming interest rate cuts in the United States reaches fever pitch.

The extended bull run comes ahead of a Wednesday afternoon announcement by the US Federal Reserve, which observers expect will unveil a quarter-percentage-point cut to lending rates.

It also has been boosted by growing faith in a deal to avoid a damaging trade war between the world's top two economies, with US President Donald Trump due to meet his Chinese counterpart Xi Jinping in South Korea.

Trump -- who arrived in the country Wednesday following visits to Malaysia and Japan -- has hinted he is confident of reaching an agreement with Xi.

Those hopes have added to an already jubilant at

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