* Nikkei, Kospi bounce after Wall St hits record

* Oil prices far below recent highs, underpin bonds

* AMD and SpaceX fall after bell, keep Nasdaq futures flat

(Adds SpaceX share release; updates prices)

By Wayne Cole

SYDNEY, Aug 5 (Reuters) - Asian stock markets jumped on

Wednesday as robust earnings and renewed appetite for tech

propelled Wall Street to record highs, while hopes for progress

on opening the Strait of Hormuz pushed oil prices and bond

yields lower.

More evidence of the vast sums being spent on AI capex

helped lift Japan's Nikkei 3.5%, while South Korea

continued its wild swings with a rise of 4.3%.

MSCI's broadest index of Asia-Pacific shares outside Japan

rose 2.3%, while Chinese blue chips

gained 1.5%.

The tech rally came despite a setback for AMD, which

fell 8.8% after hours as earnings beat the Street but still fell

short of investors' sky-high expectations.

AI and satellite group SpaceX shed 7.5%, undoing

much of a rally in regular trading time, on worries capex was

eating up all its cash flow.

This has been a recurring concern for all AI stocks given

the vast cost of compute power, with borrowing costs for the

sector continuing to rise.

"SpaceX continues to execute strongly operationally, but its

ambitious investment program means additional capital will

almost certainly be required over the medium to longer term,"

said Chris Weston, head of research at broker Pepperstone.

"How management funds that growth, and at what cost, is

likely to remain a central theme for investors over the coming

quarters."

The next test for SpaceX investors comes on Thursday, when

as many as 912 million shares held by employees and other

pre-IPO stakeholders become eligible for sale.

Nasdaq futures were flat on the earnings results,

while S&P 500 futures added 0.3% after hitting all-time

highs on Tuesday. EUROSTOXX 50 futures gained 0.3%,

while DAX futures rose 0.5% and FTSE futures

added 0.2%.

OIL SLIDE BOOSTS BONDS

Sentiment was supported by an ongoing slide in oil prices as

Qatar said mediators were making progress in efforts to end the

U.S.-Iran war, though details were lacking.

Brent crude fell 0.6% to $78.85 a barrel, a long way

from its July top of $102, while U.S. crude dropped 0.9%

to $75.09.

John Oh, an energy economist at CBA, said ship tracking

numbers suggested oil flows through the Strait of Hormuz were

proving more resilient than first thought, perhaps reaching 40%

to 45% of pre-war levels last week.

"We estimate that traffic flows only need to return to 50%

to 60% of pre-war levels to assert oversupply conditions in

global oil markets," he wrote in a note.

"This helps explain why Brent oil futures are so quick to

move into the $70s as markets are justified to price in

oversupply worries when there are hopes that the strait will be

officially re-opened."

The pullback in oil provided some relief from inflation

fears and boosted bonds globally, with 10-year Treasury yields

now at 4.603%, down from last week's high of 4.747%.

Markets also sharply pared the probability of a September

rate hike from the Federal Reserve to 57% from 67%.

Fed Bank of Kansas City President Jeff Schmid, however, used

a speech on Tuesday to call for tighter policy to help bring

inflation back to the central bank's 2% target.

Currencies were mostly quiet, though the New Zealand dollar

slipped 0.3% after data showed unemployment hit a

decade peak of 5.6% in the June quarter.

The euro was flat at $1.1537, just short of its

recent six-week high at $1.1559. The dollar was a shade lower on

the yen at 157.63, with the threat of intervention

lingering over traders.

U.S. Treasury Secretary Scott Bessent said he was sure Bank

of Japan Governor Kazuo Ueda will "do what is best" for the

country's economy, which markets took as encouragement to raise

interest rates further.

Japan and the United States launched a rare joint yen-buying

intervention last week and vowed to take further action if

needed to shore up the currency.

In commodity markets, the drop in yields helped

non-interest-paying gold up 1.6% to $4,140 an ounce.