Asian shares are mixed as tech stocks rebound from sell-offs, while oil prices slip

Asian stock markets displayed mixed movements on Tuesday, with technology shares leading gains after Wall Street recovered from last week’s sell-off. Tokyo’s Nikkei 225 increased by 1% to 64,654.22, with Tokyo Electron, a computer chip equipment maker, rising 7.5%. South Korea’s Kospi jumped 3.5% to 7,743.65, following a 8% loss the previous day, as SK Hynix climbed 7.7% after announcing a partnership with Nvidia for data center construction, and Samsung Electronics rose 3.6%. Taiwan’s Taiex advanced 2.2% due to gains in tech companies like TSMC, while Hong Kong’s Hang Seng dropped 0.4% and Shanghai’s Composite index added 0.3%. On Wall Street, the S&P 500 gained 0.3% on Monday, recovering from a 2.6% drop the prior Friday—the largest since October—closing at 7,405.73. The Dow Jones Industrial Average dipped 0.2%, and the Nasdaq composite climbed 0.9%. AI-related semiconductor stocks, which had fallen due to concerns over inflated prices, rebounded strongly. Micron Technology rose 9.9% after a 13.3% drop on Friday, resuming a year-to-date surge where its stock has tripled. Marvell Technology climbed 9.6% in its first trading day after joining the S&P 500, following a 32.5% surge in a single day after Nvidia CEO Jensen Huang suggested it could become the next trillion-dollar company. Oil prices retreated after surging on Monday due to escalating tensions between Israel and Iran, which risked pulling the region into full-scale conflict. Brent crude oil, the international benchmark, fell 41 cents to $93.84 per barrel, after briefly exceeding $98. U.S. benchmark crude dropped 47 cents to $90.83 per barrel. Rising oil prices have already pushed inflation higher, increasing household costs and bond yields, which threaten to slow global economies and reduce investment returns. In currency trading, the dollar strengthened to 160.20 Japanese yen, up from 160.17 yen, while the euro rose to $1.1540 from $1.1532. The volatility in markets reflects ongoing geopolitical risks and shifting investor sentiment toward AI-driven tech stocks amid broader economic uncertainties.