Strait of Hormuz

Asian technology and semiconductor stocks surged Wednesday following a conditional U.S.-Iran ceasefire and the temporary reopening of the Strait of Hormuz. Chipmakers like TSMC and SMIC led the gains. The news eased concerns about helium supply disruptions, crucial for semiconductor manufacturing, and a potential drop in oil prices also boosted market sentiment. South Korea’s SK Hynix and Samsung Electronics saw significant rallies, with Samsung also benefiting from strong AI-driven demand for its HBM chips.