Asian stocks rebound as chip shares recover ahead of Big Tech earnings
What's next: Tesla and Alphabet report Wednesday, with investors looking for proof AI spending can sustain the market rally.
Asian stocks rose Tuesday as chipmakers rebounded from a recent sell-off, tracking gains on Wall Street and shifting attention to a packed week of US technology earnings. The MSCI Asia-Pacific Index climbed 1.7%, while benchmark indexes in South Korea and Taiwan gained about 3%. In the US, the S&P 500 opened up 0.42% and the Nasdaq Composite rose 0.79% as semiconductor shares recovered. Investors are now focused on results from Tesla and Alphabet on Wednesday, followed next week by Microsoft, Meta Platforms, Apple and Amazon. Analysts said the reports will test whether revenue, margins and capital spending can justify the scale of AI investment after this year's chip-led rally came under pressure.