Asia-Pacific markets rose broadly on Wednesday, with Japan’s Nikkei 225 reaching a record high despite ongoing uncertainty over U.S.–Iran tensions.

Investors appeared to overlook escalating conflict risks, including reports of Iranian activity in the Strait of Hormuz, a key global oil shipping route.

U.S. Secretary of State Marco Rubio said Iran has placed mines in parts of the waterway and targeted commercial shipping.

A White House official said U.S. forces have destroyed mines and dozens of minelaying vessels in the region, CNBC has reported.

Japan’s Nikkei gained nearly 3% as markets focused more on economic momentum than geopolitical concerns.