Asia Stocks Surge as Tech Earnings Boost Wall Street Records

Asian stock markets surged on Wednesday as strong earnings and renewed demand for tech lifted Wall Street to record highs. The Nikkei rose 3.0% in Japan, while South Korea added 3.4%, continuing its run of wild swings.

MSCI's Asia-Pacific shares outside Japan climbed 1.5%, but not all tech firms benefited equally. Investors took profits on AMD after the chipmaker's earnings beat forecasts, sending its shares down 9% in extended trading.

SpaceX shed 7.5% despite strong operational execution, as concerns over its ambitious investment program and cash flow weighed on investors' minds.

The oil price slide boosted bonds globally, with 10-year Treasury yields dipping to 4.6187%, down from last week's high of 4.747%. The probability of a September rate hike from the Federal Reserve was sharply pared to 57% from 67%.