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Asian Markets Surge…Oil Falls on Tech Strength, Hormez Expectations

Reuters ·

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  1. 1Asian markets surged on Wednesday, as Wall Street hit a record high on a recovery in tech demand and solid earnings.
  2. 2Japan's Nikkei rose 3.0%, Korea gained 3.4%, and the MSCI Asia-Pacific ex-Japan index climbed 1.5%.
  3. 3Oil prices fell and Treasury yields declined on expectations of progress toward reopening the Strait of Hormuz, while the probability of a Fed rate hike in September fell from 67% to 57%.

This 3-line summary is compiled from the report below.

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