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Asian Tech Stocks Rise as Trump Pledges Strait of Hormuz Escorts
Asian stock markets surged on Monday, with the MSCI Asia-Pacific Index excluding Japan rising as much as 2.7% to a record high after strong U.S. tech earnings and Trump’s Hormuz escort pledge. Tech-heavy benchmarks in South Korea and Taiwan each rose more than 3.5%, while SK Hynix gained nearly 10% and TSMC climbed more than 6%. Dilin Wu, a research strategist at Pepperstone Group, said she is cautiously optimistic about Asian markets overall because geopolitical uncertainty and high oil prices could limit gains.