Asia stocks surged on Wednesday following dovish signals from the Federal Reserve, with the Nikkei 225 up 0.7% and the Hang Seng Index rising 0.8%. However, tech stocks faltered after Oracle reported underwhelming quarterly earnings, causing the Nasdaq to close 0.1% lower.

Investors were encouraged by the Fed’s commitment to maintaining accommodative monetary policy, boosting sentiment across Asian markets. The Shanghai Composite Index gained 0.6% while the Kospi rose 0.9%, reflecting optimism over continued central bank support for economic recovery.

Tech shares took a hit after Oracle reported disappointing revenue growth and cloud services sales, leading to a 6% drop in its stock price. This weighed on the broader tech sector, with the S&P 500 tech index slipping 0.3% and the Nasdaq Composite edging lower as well.

Despite the mixed performance in the tech sector, other sectors such as financials and energy saw gains as investors rotated into value stocks. This shift in market sentiment led to a broader rally in Asian equities, with the ASX 200 climbing 1.2% and the Taiwan Weighted Index also posting strong gains.

Overall, the outlook for Asian stocks remains positive as investors continue to focus on economic recovery prospects and central bank support. While tech stocks may face headwinds in the near term, the broader market sentiment remains buoyant, supported by the Fed’s dovish stance and improving economic data.

Read more at Investing.com: Asia stocks rise on dovish Fed signals; tech falters as Oracle underwhelms