Asian equities were mixed on Wednesday as investors looked for signs that technology stocks could regain momentum after a broad sell-off in the United States triggered losses across global markets in the previous session.
South Korea's Kospi climbed 4.02%, recovering sharply after a double-digit decline a day earlier. Japan's Nikkei 225 slipped 0.06%, while Australia's ASX 200 was largely unchanged, rising 0.01%.
The rebound in South Korean shares came as market participants assessed whether demand for technology stocks could improve following heavy losses in the sector overnight.
U.S. markets ended lower on Tuesday, led by weakness in technology companies. The Nasdaq Composite slumped 2.21%, while the S&P 500 fell1.44%. The Dow Jones Industrial Average also finished in negative territory, easing 0.09%.
Investors are now awaiting Micron Technology's earnings report for indications on semiconductor demand and broader trends across the technology sector. Ahead of the release, U.S. equity futures pointed to a subdued start, with futures linked to the S&P 500 and Nasdaq 100 marginally lower.
Oil prices moved lower as traders monitored the gradual restoration of shipping activity through the Strait of Hormuz, one of the world's most important energy corridors.
Brent crude for August delivery fell 0.45% to $76.73 a barrel, while U.S. West Texas Intermediate crude for August settlement lost 0.48% to $72.86 a barrel.
Market participants also tracked efforts to resume maritime operations in the Persian Gulf. The International Maritime Organization said more than 11,000 seafarers currently stranded in the region would begin transiting through the Strait of Hormuz.
"We have secured the necessary safety guarantees and have thoroughly verified the conditions for safe navigation to support these operations," IMO Secretary-General Arsenio Dominguez said.
According to Dominguez, the effort is being coordinated with Iran, Oman, other coastal nations in the region, the United States and representatives of the shipping industry.
The reopening of maritime routes has drawn close attention from investors because the Strait of Hormuz previously handled about 20% of global oil shipments. Markets are now assessing whether smoother vessel movement through the waterway can help ease concerns over energy supplies and support broader risk sentiment.
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