Global shares mostly advanced Wednesday, buoyed by falling crude oil prices and sustained interest in artificial intelligence, while investors awaited crucial U.S. inflation data and Nvidia's earnings report. The results from the chipmaking giant are seen as a potential bellwether for the ongoing boom in AI investments.

In Asia, Japan's Nikkei 225 index rose 0.6% to 66,262.16, and South Korea's Kospi gained nearly 1.0% to 6,808.21. Hong Kong's Hang Seng climbed 0.6% to 25,652.97, while Shanghai's Composite index picked up 0.6% to 3,912.52. Australia's S&P/ASX 200 dipped 0.4% to 9,127.80.

European markets showed mixed performance in early trading. France's CAC 40 gained 0.5% to 8,478.57, while Germany's DAX remained little changed at 26,257.35. Britain's FTSE 100 edged up less than 0.1% to 10,881.69.

U.S. futures showed minimal movement. The future for the S&P 500 was nearly unchanged, while that for the Dow Jones Industrial Average saw a slight increase of 0.1%.

Investor sentiment was also influenced by developments concerning the Strait of Hormuz. Top diplomats from Iran and Oman met Tuesday to discuss managing ship traffic through the vital waterway, which remains largely impacted by the war in Iran. These discussions followed an attack on an oil tanker off Oman's coast, highlighting risks to shipping in the region.

A delegation from Pakistan also held talks with Iran's president regarding reviving negotiations to end the Iran-U.S. conflict, described as "very positive and productive" by Pakistan's Interior Minister Mohsin Naqvi.

Falling crude oil prices contributed to the positive market mood, particularly for oil-importing nations like Japan. Brent crude oil, the international benchmark, lost 2.8% to $84.81 a barrel, and U.S. benchmark crude dropped 3.1% to $79.80 a barrel. These price movements occurred amid fluctuating hopes for a de-escalation between the United States and Iran, following new U.S. sanctions.

In currency markets, the U.S. dollar weakened against the Japanese yen, falling to 158.96 from 159.20. The euro saw a slight increase, trading at $1.1678, up from $1.1675.