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Chip stock boom

Asian markets return from Golden Week to a tech-driven rally, with Japan's Nikkei surging 6% and SoftBank jumping nearly 20%. Meanwhile, Tehran mulls a one-page U.S. proposal to end the Iran war, and U.S. labor market data shows hiring holding up despite the oil shock.

Today’s recommended read: Trapdoor creaks for dollar if Iran war ends, Mike Dolan

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The skinny

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