Wednesday saw significant activity across the global stage, from major technology investments in Asia to key diplomatic signals from the White House.
The biggest announcement came from Amazon, as the company’s cloud computing division revealed a multi-billion dollar plan to expand in South Korea.
Meanwhile, US President Donald Trump adjusted expectations for a meeting with North Korea’s leader, whereas oil prices stabilised after recent losses.
A slate of Japanese companies saw their stock prices surge on news of new US investment projects.
Here’s your one-stop stand to catch up on all the headlines you may have missed.
Amazon funnels $5 billion into South Korean AI sector
Amazon Web Services (AWS) will channel $5 billion into South Korea by 2031 to construct new artificial intelligence data centers, the country’s presidential office confirmed Wednesday.
The commitment came as AWS CEO Matt Garman met with South Korean President Lee Jae Myung during the APEC summit. President Lee noted the investment would bolster the nation’s ambition to become a top-three global AI power.
This specific plan is part of a wider $9 billion pledge from seven international firms and adds to a broader $40 billion AWS has committed to investing across 14 APEC economies through 2028.
Trump signals No Immediate Plans to Meet Kim Jong Un in Asia
President Donald Trump indicated that a summit with North Korean leader Kim Jong Un is not likely to happen during his current tour of Asia.
Aboard Air Force One, Trump told reporters his priority is an upcoming meeting with Chinese President Xi Jinping, stating, “Our focus is now on tomorrow with China.”
While affirming a potential meeting with North Korea could occur in the “not too distant future,” he also downplayed the country’s recent missile tests.
The statement serves to manage expectations in the region, even as Kim has signaled a conditional willingness to return to negotiations.
Oil prices find footing as market eyes sanctions and inventories
After falling for three consecutive sessions, oil prices held steady on Wednesday as the market assessed new geopolitical and supply-side data.
Brent crude traded over $64 a barrel, while West Texas Intermediate hovered near $60.
Traders are monitoring the planned enforcement of strict US sanctions against Russia, which the US ambassador to NATO confirmed would proceed.
This was balanced by a mixed US inventory report that showed a 4-million-barrel nationwide drop in crude holdings but a simultaneous inventory build at the key Cushing, Oklahoma hub.
The market now looks toward the OPEC+ meeting this weekend.
SoftBank and Panasonic rise on US investment commitments
Shares in some of Japan’s largest technology and industrial firms, including SoftBank Group and Panasonic Holdings, outperformed the broader market on Wednesday.
SoftBank climbed as much as 5.3% and Panasonic gained 5% after the companies were named in connection with new investment projects in the United States.
A fact sheet released by Japan’s Ministry of Economy, Trade and Industry during President Trump’s visit detailed the plans, which include potential multi-billion dollar investments in US energy and AI infrastructure.
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