Stocks Advance on Iran Offer Report, Tech Rallies: Markets Wrap
Bloomberg • • business
Key Points:
- Stocks rose and the US dollar weakened after reports that Iran proposed reopening the Strait of Hormuz, reducing fears that peace talks had stalled.
- MSCI’s Asia Pacific share benchmark increased by 1.1%, while its emerging markets index hit a record high following the news.
- Taiwan Semiconductor Manufacturing Co., Asia’s most valuable stock, surged 6% to a record, boosting Asian chip stocks.
- A broader gauge of Asian technology stocks also reached an all-time high amid optimism over the potential diplomatic breakthrough.
