SK Hynix Inc.’s 12-layer HBM3E memory chip displayed at a semiconductor exhibition in Seoul, South Korea.
Bloomberg | Bloomberg | Getty Images
Asian tech stocks soared on Tuesday, following last week’s sharp selloff, following a rebound on Wall Street overnight as fresh buying in semiconductor stocks spilled over into Asia and buoyed by a plunge in oil prices.
South Korean semiconductor maker SK Hynix rose 8.01%, while Samsung Electronics rose 5.32%. Samsung SDI rose 6.27%.
Major technology investor in Japan Softbank Group Chip testing equipment makers soared 12%. Advantest It increased by 5.41%. Semiconductor manufacturing equipment manufacturer Tokyo Electron Although it increased by 5.88%, laser tech and disco They increased by 6.34% and 6.95%, respectively.
The gains followed strong trading on Wall Street, with the tech-heavy Nasdaq Composite Index rising 2.74% and the S&P 500 Index gaining 2.35%, its best day since April 8.
The rebound comes after global technology stocks tumbled last week on concerns that Democrats’ landslide victory in the U.S. midterm elections could lead to tighter restrictions on data center development, impacting demand for artificial intelligence chips and infrastructure.
