Nikkei 225 Jumps 3% as Chip Stocks Rally on Iran Deal Hopes

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.

The rally followed an overnight surge on Wall Street. Traders also welcomed fresh hope that the United States and Iran will soon reopen the Strait of Hormuz.

Chip Stocks Lead The Rally

The Nikkei 225 opened nearly 1% higher and climbed steadily through the session. The gain reversed recent pressure tied to Bank of Japan currency intervention.

SoftBank Group surged more than 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%. Samsung Electronics gained more than 4% at the open, extending South Korea's chip rebound into the new session.

Ortus Advisors strategist Andrew Jackson linked the move to renewed U.S. semiconductor strength. He said it reinforced the bullish outlook for Asian AI stocks.

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