Asian shares rebound 0.6% as chip gains offset bond-yield concerns

  • Asian equity markets rebounded on Wednesday as technology shares and easing oil prices supported sentiment.
  • The MSCI Asia Pacific Index advanced 0.6%, while the KOSPI gained 0.26% to 6,888.43 at 11:20 a.m.
  • Investors continued to weigh semiconductor gains against elevated U.S. Treasury yields and Federal Reserve policy uncertainty.

Technology shares lifted Asian equity markets on Wednesday, ending a two-day decline, as investors balanced gains in U.S. semiconductor stocks and easing oil prices against elevated bond yields and uncertainty over Federal Reserve policy. The MSCI Asia Pacific Index advanced 0.6%, while South Korea’s KOSPI rose 17.62 points, or 0.26%, to 6,888.43 at 11:20 a.m. after opening 1.06% higher. The Philadelphia Semiconductor Index gained 1.32% overnight, supporting South Korean chipmakers, although Samsung Electronics fell 0.83% and SK hynix rose 1.42%.

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