Asian stocks surge after Wall Street rebound, KOSPI up 4.5%
Business
Asian stocks had a big day on Tuesday, following Wall Street's sharp rebound.
South Korea's KOSPI shot up 4.5%, and Japan's Nikkei climbed about 3%.
The buzz was mostly around AI and semiconductor stocks, plus falling oil prices helped lift the mood.
Chips and cheaper oil boost markets
Wall Street just had its best rally in seven months, thanks to strong demand for chip stocks and cheaper oil.
This upbeat energy carried over to Asia, with investors keeping an eye on upcoming US inflation data.
There's also extra excitement around AI, especially with Anthropic PBC beginning to market its much-awaited IPO.
As strategist Dilin Wu put it, lower oil prices gave investors some breathing room after last week's market dip, making it easier for everyone to get back into stocks.