Asian stocks rebound as chip shares lift Seoul, Taipei about 3%
Why it matters: The bounce came as oil eased and investors shifted focus to Tesla and Alphabet earnings for proof AI spending can pay off.
Asian stock markets rose Tuesday after a four-day slide, led by a rebound in chip shares that pushed benchmarks in South Korea and Taiwan up about 3%. The MSCI Asia-Pacific Index climbed 1.7%, with Samsung Electronics and Taiwan Semiconductor Manufacturing among the biggest drivers. Japan's Nikkei 225 gained about 1.7% to 3%, while Shanghai also advanced. Oil prices edged lower after Monday's jump, easing some inflation worries even as fighting involving the United States, Iran and Houthi rebels kept traders on alert. Investors are now looking to results from Tesla and Alphabet, due Wednesday, for evidence that heavy artificial intelligence spending is translating into revenue, margins and cash flow.