Asian tech stocks rebound after Wall Street chip rally
What's new: Seoul's Kospi recovered much of Monday's 8.3% plunge, while SK Hynix jumped 6.44% as investors returned to AI shares.
Asian technology shares rose Tuesday after U.S. chip stocks bounced back, drawing investors into artificial-intelligence names a day after a sharp regional sell-off. In South Korea, SK Hynix climbed 6.44%, Samsung Electronics gained 3.38% and Seoul Semiconductor jumped more than 12%. Japan's Tokyo Electron rose 5.65%, while Advantest and Renesas Electronics also advanced. Taipei added 2.8% and Tokyo more than 2%, with gains spreading to Hong Kong, Shanghai, Singapore, Manila, Mumbai, Bangkok and Wellington. The rebound followed Monday gains for the S&P 500 and Nasdaq after last week's tech rout tied to valuation worries and Broadcom's outlook. Jakarta rose more than 4% after Bank Indonesia delivered a surprise 25-basis-point rate increase.