HONG KONG: Asian equities climbed again Wednesday (Aug 5), tracking another record on Wall Street, as tech firms enjoyed a recent revival after a month-long rout and with confidence boosted by the Trump administration touting an imminent deal to reopen the Strait of Hormuz. After spending four weeks unloading their positions over fears that the AI-led rally had come to a shuddering halt, investors were piling back into the sector to extend a rebound that began in breathtaking fashion Friday. All three main indexes on Wall Street chalked up gains Tuesday, with the S&P 500 and Dow hitting records - while there were also new peaks for Paris, Milan, Frankfurt and Madrid. Friday's rebound - the KOSPI surged almost 18 per cent and SK Hynix 30 per cent - came on the back of bargain-buying and positive earnings among other things. Gains have been helped this week by hopes that the US-Iran truce will be reset after weeks of tit-for-tat strikes.