Emerging-market stocks near record highs with 25% YTD gains as Asian tech rallies, while Bitcoin and Ethereum diverge sharply from the risk-on trend.

Emerging-market stocks near record highs with 25% YTD gains as Asian tech rallies, while Bitcoin and Ethereum diverge sharply from the risk-on trend.

Asian stocks reached a record high, fueled by optimism that the reopening of the Strait of Hormuz will normalize oil flows and ease inflation. This development, coupled with…