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Asian tech-led rebound
Asian stocks rebounded on Monday after Wall Street recovered. The MSCI Asia-Pacific Index rose 2.3%, while Japan’s Nikkei 225 gained 3.5% and Taiwan’s Taiex climbed as much as 6.4%, led by technology and semiconductor shares. Concerns about an independent investigation involving Nvidia CEO Jensen Huang limited gains, while Taiwan’s measures to curb short selling bolstered investor confidence after steep losses. Investors are watching for US inflation data due Tuesday for clues about the path of interest rates, with markets pricing in nearly an 80% chance of a rate hike by year-end, amid continued caution over AI companies’ valuations and spending on their infrastructure.
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