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Asian shares were mostly higher on Monday as U.S. stocks rebounded from the worst day since April. Tokyo’s Nikkei 225 and the Kospi in Seoul showed gains, while Hong Kong’s Hang Seng slipped slightly. Taiwan led the advance, with significant buying of computer chip-related shares driving the Taiex up to a fresh record. The global semiconductor cycle is strong, with breakthroughs in artificial intelligence applications, cloud computing, and 5G technology driving growth.
In the U.S., the S&P 500 and Nasdaq composite saw gains, with Nvidia being a major force pushing the market upward. The recent bumpiness in the stock market was fueled by concerns about high inflation and the Federal Reserve’s potential policy changes. The U.S. economy continues to show strength in household spending, but underlying numbers may not be as promising.
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