Hong Kong leads gains in Asia, Taiwan stocks hit new record highs

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Hong Kong markets gained more than 2% on Wednesday, leading gains in Asia and powered by energy and basic material stocks.

Asia-Pacific markets mostly rose, with the Taiwan Weighted Index crossing the 23,000 mark to hit an all-time high.

Stock markets in the region mostly rose after key U.S. benchmark indexes hit fresh highs overnight as artificial intelligence chip firm Investors in Asia assessed Japan's trade data for May, with exports beating expectations. Exports grew 13.5% year on year compared with a 13% increase expected by economists polled by Reuters. Imports growth of 9.5%, however, missed expectations of a 10.4% increase.

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