MSCI Asia Pacific Gauge Rises 1.5% as Chipmakers Extend Rebound for Second Day
Updated
Updated · Bloomberg · Jul 22
MSCI Asia Pacific Gauge Rises 1.5% as Chipmakers Extend Rebound for Second Day
3 articles · Updated · Bloomberg · Jul 22
Summary
MSCI’s Asia Pacific equities gauge climbed 1.5%, building on Tuesday’s biggest one-day gain in a month as Asian stocks advanced for a second straight session.
Chipmakers tied to the AI boom led the move, extending a rebound that outweighed investor concern over higher oil prices after renewed US-Iran escalation.
South Korea’s Kospi jumped 6% as the unwind of leveraged bets that had left the benchmark nearly 30% below its peak appeared close to ending.
Japan and Taiwan also rose, reinforcing a regional recovery that followed a strong US tech session and a 5.2% jump in a key semiconductor gauge a day earlier.