FX.co ★ Asian Stocks Track Wall Street Higher

Asian equity markets rose on Wednesday, following an overnight rally on Wall Street that pushed the Dow and S&P 500 to new record highs. The advance was driven by strong corporate earnings and a sharp decline in oil prices. Investors also assessed reports of an imminent interim agreement between the US and Iran to reopen the Strait of Hormuz, a potential development that could ease inflation pressures and temper expectations for near-term interest rate hikes by the Federal Reserve. Technology-focused markets in Japan and South Korea led regional gains, with the Nikkei 225 and KOSPI Composite both jumping more than 3%. Among notable movers, Japan’s tech investment conglomerate SoftBank Group surged over 10%, while South Korean chipmaker SK Hynix gained 6%.