Japan’s Nikkei 225 climbed 3.34% Wednesday to 66,090 points, marking its sharpest one-day gain in weeks. Chip stocks led the advance across Asian markets, with SoftBank Group surging more than 10%. Traders welcomed fresh hope that the United States and Iran will soon reopen the Strait of Hormuz, pushing oil prices lower and easing cost pressure on energy-dependent economies. The S&P 500 and Dow Jones Industrial Average both closed at record highs overnight, with the Nasdaq Composite climbing 2.59%.
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