Asian markets rebound on falling oil, Nvidia earnings in focus

Asian markets mostly rebounded Wednesday as falling oil prices eased inflation concerns and tech stocks recovered ahead of Nvidia's earnings, while Thailand prepared its rate decision. Wall Street closed higher overnight, driven by tech gains. The MSCI AC Asia Pacific rose about 1%, with South Korea's KOSPI up 2.1% and Japan's Nikkei 225 gaining 0.8%. Chipmakers SK Hynix and Samsung Electronics led gains, while Brent crude fell 2.6% to around $86.25 per barrel after Iran and Oman discussed restoring maritime traffic through the Strait of Hormuz. Australia's July consumer prices rose 3.5% year-on-year, above expectations, boosting odds of a Reserve Bank rate hike. Thailand's central bank is widely expected to hold rates at 1%. US PCE inflation data and Fed official Kevin Warsh's Jackson Hole speech are due later this week.