Asian shares inched higher on Wednesday as those related to artificial intelligence found respite after a selloff, while any gain was tempered by elevated oil prices ?and caution ahead of US inflation data later in the global day.

Among ?firms in the AI supply chain, chipmakers Samsung Electronics and SK Hynix rose more than 2% in ?South Korea while Kioxia was steady in Japan, recovering some of the previous session's loss.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5% after US stocks ended the previous session with a mild loss. Japan's Nikkei rose 0.2% and South Korea's Kospi added 1.8%.

Sentiment remained cautious, however, with oil prices elevated as concern over energy supplies intensified following Houthi missile and drone attacks on Saudi Arabia.

US crude ticked up 0.8% to $94.96 a barrel. Brent crude rose to $106.6.

"After yesterday's chip-led sell-off in the region ... market participants will be gauging whether shakiness across major indices eases. The geopolitical situation globally and the impact on energy markets won't help," said analyst Kyle Rodda at Capital.com.

In another sign of risk aversion, longer-dated ?bonds rallied as investors sought safety. The yield on benchmark 10-year Treasury notes was steady at 5.221% after touching its lowest in nearly two weeks, while that on 30-year notes held at 5.569% following a three-day decline.