Asian stock markets jumped on Wednesday as strong earnings and a resurgence of demand for tech lifted Wall Street to record peaks, while hopes for progress on opening the Strait of Hormuz dragged on oil prices and bond yields.

Japan's Nikkei climbed 3.0% and South Korea added 3.4%, continuing its run of wild swings. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.5%.

Not all tech firms benefited equally though.

Investors appeared to be taking profits on AMD even as its results beat forecasts. Shares in the chipmaker sank 9% after the bell.