Asian equity markets advanced on Wednesday, tracking a rally on Wall Street overnight that lifted the Dow and S&P 500 to fresh record highs, supported by robust corporate earnings and a sharp drop in oil prices. Investors weighed reports of an imminent interim agreement between the US and Iran to reopen the Strait of Hormuz, a development that could ease inflation concerns and reduce expectations for near-term Federal Reserve interest rate hikes. Technology-heavy markets in Japan and South Korea led regional gains, with the Nikkei 225 and KOSPI Composite both surging more than 3%. Among individual stocks, Japanese tech-investing giant SoftBank Group soared more than 10%, while South Korean chipmaker SK Hynix climbed 6%.