Japan's Nikkei 225 jumped 3.34% to 66,090 points Wednesday, marking its sharpest one-day gain in weeks. Chip stocks led the rally across Asia, with SoftBank Group surging over 10%, according to CNBC. Tokyo Electron added 3.64%, Advantest gained 7%, and Kioxia rose 6.34%. South Korea's SK Hynix jumped around 6%, while Samsung Electronics gained over 4%.
Treasury Secretary Scott Bessent told CNBC he expects a deal "today or tomorrow" to reopen the Strait of Hormuz, a critical corridor for global oil shipments. The anticipated Iran agreement helped push oil prices lower, easing cost pressure on energy-dependent economies like Japan and South Korea.
