Asian Stocks Surge on US-Iran Hormuz Deal Hopes

Asian stock markets surged Thursday, led by a record-breaking rally in Tokyo, as investors anticipated a potential U.S.-Iran agreement that could reopen the Strait of Hormuz to oil tankers amid ongoing conflict tensions.

Japan's Nikkei 225 index soared 3,402.35 points, or 5.7 percent, to an intraday high of 62,915.87 after markets reopened following Golden Week holidays. The benchmark has climbed about 18 percent over the past three months and nearly 73 percent in the past year, fueled largely by gains in technology shares tied to artificial intelligence demand. Hong Kong's Hang Seng rose 1.3 percent to 26,559.86, Australia's S&P/ASX 200 gained 0.9 percent to 8,870.70, and Taiwan's Taiex jumped 2.1 percent. South Korea's Kospi dipped 0.4 percent to 7,353.08 as traders took profits following a nearly 7 percent advance the prior day that pushed it above 7,000 for the first time.

The optimism stemmed from U.S. President Donald Trump's Wednesday statement that the Strait of Hormuz could be "open to all" if Iran accepts an unspecified agreement. Global markets rallied in response, with U.S. stocks posting strong gains: the S&P 500 climbed 1.5 percent to a fresh record, the Dow Jones...