(Changes dateline, updates with Asia markets open)

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Trump announces AI infrastructure investment

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Netflix ( NFLX ) shares jump 14% after the bell as earnings beat

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Most Asian shares rise, China falls

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Dollar settles near 2-week low after whipsaw

By Stella Qiu and Koh Gui Qing

SYDNEY/NEW YORK, Jan 22 (Reuters) - Global stocks gained

on Wednesday as a flurry of new policies from U.S. President

Donald Trump combined with robust corporate earnings to bolster

investor optimism, while tariff uncertainty kept the dollar near

two-week lows.

Netflix ( NFLX ) shares surged 14% in after-hours trading as

the streaming giant added a record number of subscribers last

quarter, enabling it to increase prices for most service plans

in the United States and other countries.

That helped lift Nasdaq futures 0.5% in Asia. S&P 500

futures also rose 0.2%.

Late on Tuesday, Trump announced that OpenAI, SoftBank and

Oracle will form a joint venture called Stargate and invest up

to $500 billion in artificial intelligence infrastructure.

Shares of SoftBank surged 9% in Tokyo, while Oracle

already gained 7% overnight.

Helping risk sentiment is also relief that Trump did not

announce a more comprehensive sweep of tariffs at the start of

his second presidency. Many investors and foreign capitals had

expected tariffs to be among a raft of executive orders Trump

signed in his first day in office.

However, he did talk up the threat of tariffs again on

Tuesday, vowing to hit the European Union with fresh levies. He

also said his administration was discussing imposing a 10%

tariff on goods from China on Feb. 1.

"I think we're pricing out all the extreme moves," said Hoe

Lon Leng, global head of FX flow and EM rates linear trading at

Nomura in Singapore.

"I think Trump seems to be more outcome driven. I think he

wants to do a good job and ... that means the recent oil prices,

the recent move higher in bond yields would have affected his

position on pushing things to the extreme."

Japan's Nikkei jumped 1.4%, tracking broad gains on

Wall Street. MSCI's broadest index of Asia-Pacific shares

outside Japan rose 0.1% as falls in Chinese

stocks offset broad gains in Taiwan and South Korea.

Chinese blue chips fell 1.2% and the Hong Kong's

Hang Seng index lost 1.5%.

The temporary tariff relief has supported a pullback in

Treasury yields. The U.S. 10-year Treasury yield

was, however, 2 basis points higher in Asia at 4.595%, having

dipped 4 bps overnight.

They were still up around a percentage point since the

Federal Reserve started cutting rates in mid-September,

reflecting a strong economy and dwindling prospects for large

Fed reductions this year.

Futures imply a total easing of 37 basis points from the Fed

this year, with the first rate cut not fully priced in until

July.

The U.S. dollar slipped 0.1% against its major peers on

Wednesday to 108.08, just above a two-week low of 107.86,

after finishing a choppy session overnight little changed.

The euro eased 0.2% to $1.0412, just off a

three-week top of $1.0435. The Canadian dollar, which had

hit a five-year low on Tuesday, clawed back most of its losses

and was last at 1.4332 per U.S. dollar.

Bitcoin held near a record high at $105,701, having

rallied 4% overnight as the top U.S. markets regulator created a

task force to develop a regulatory framework for crypto assets.

"The road for bitcoin to reach $120,000 is plausible," said

Billy Leung, investment strategist at Global X.

Oil prices were flat on Wednesday, having fallen more

than 2% overnight as Trump planned to boost U.S. energy

production. Brent crude held at $79.29 a barrel, while

U.S. crude was little changed at $75.88 a barrel.

Gold also resumed its climb to its previous record high.

Spot prices rose 0.1% to $2,747.04 per ounce, having

jumped 1.4% overnight.