Asian Shares Surge Following Wall Street Rebound: Key Gains in Global Stock Markets

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<ul>
  <li>Asian shares were mostly higher on Monday after U.S. stocks bounced back from Wall Street’s worst day since April to finish higher for the week.</li>
  <li>U.S. futures slipped while oil prices advanced.</li>
  <li>“The robust global semiconductor cycle is positive for Taiwan’s growth outlook,” Raymond Yeung and Bansi Madhavani of ANZ wrote in a research note.</li>
</ul>
<p><strong>Asian shares rise as U.S. stocks rebound, with semiconductor sector leading gains.</strong></p>
<h2><strong>Asian Markets Show Resilience Amid U.S. Stock Rebound</strong></h2>
<p>Asian shares demonstrated resilience on Monday, with significant gains observed across major indices. Tokyo’s Nikkei 225 added 0.3% to 38,758.96, while the Kospi in Seoul jumped 0.7% to 2,705.87. Australia's S&P/ASX 200 surged 0.7% to 2,705.87, and the Shanghai Composite index gained 0.3% to 3,097.86, buoyed by a 4.3% year-on-year increase in corporate profits reported by the government. However, Hong Kong’s Hang Seng slipped 0.2% to 18,576.65.</p>
<h3><strong>Semiconductor Sector Drives Taiwan's Market Surge</strong></h3>
<p>Taiwan led the advance in Asian markets, with heavy buying of computer chip-related shares pushing the Taiex up 1.3% to a fresh record. MediaTek, a semiconductor company specializing in chips for wireless communications, high-definition television, and handheld mobile devices, saw an impressive 8.4% jump. Taiwan Semiconductor Manufacturing Corp. also logged a more modest 0.5% gain. Analysts from ANZ highlighted the positive impact of the robust global semiconductor cycle on Taiwan’s growth outlook, driven by breakthroughs in artificial intelligence applications, cloud computing, and 5G telecommunications technology.</p>
<h2><strong>U.S. Stock Market Recap: Gains Amid Volatility</strong></h2>
<p>On Friday, the S&P 500 gained 0.7% to 5,304.72, recovering all its losses from the prior two days and extending its weekly winning streak to five. The Dow Jones Industrial Average rose less than 0.1% to 39,069.59, and the Nasdaq composite gained 1.1% to 16,920.79, topping an all-time high set earlier in the week. Nvidia continued its upward trajectory, rising another 2.6% and significantly contributing to the S&P 500’s gains. Despite the week’s volatility, Nvidia’s strong profit report and growth forecasts suggest continued momentum in the AI sector.</p>
<h3><strong>Economic Indicators and Market Sentiment</strong></h3>
<p>The overall U.S. economy has shown continued strength in consumer spending, although underlying numbers may not be as encouraging. A report from the University of Michigan indicated that consumer sentiment weakened less than initially suggested in May, and expectations for inflation in the coming year rose by less than feared. This could help prevent a vicious cycle where high inflation expectations drive consumer behavior that exacerbates inflation. However, concerns about stubbornly high inflation and potential Federal Reserve rate hikes have contributed to recent market volatility.</p>
<h3><strong>Conclusion</strong></h3>
<p>In summary, Asian markets have shown resilience amid a rebound in U.S. stocks, with the semiconductor sector leading gains in Taiwan. Despite recent volatility, the U.S. stock market has demonstrated strength, driven by robust corporate earnings and positive economic indicators. Investors will continue to monitor inflation expectations and Federal Reserve policies closely, as these factors will play a crucial role in shaping market dynamics in the coming months.</p>