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 positive semiconductor news, boosted investor confidence. Lower energy costs are also easing concerns about future interest rate hikes.

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…

(Bloomberg) -- Asian stocks hovered near record highs in holiday-thinned trading as optimism that the reopening of the Strait of Hormuz will restore oil flows and curb inflation…