From Coinpedia · By Anjali Belgaumkar
Asian technology stocks bounced back strongly on Tuesday, following a powerful rebound on Wall Street and a sharp fall in oil prices. SoftBank Group led the recovery, jumping more than 13% and later trading about 15% higher in Tokyo. Chip equipment makers also gained, with Lasertec up 6.74%, Disco up 6.01% and Tokyo Electron climbing 4.73%. In South Korea, SK Hynix rose 5.2%, Samsung Electronics added 3.9% and Samsung SDI gained 6.87%. TSMC edged up 0.45%, and China’s ChiNext index rose 1.4%. Overnight, the Nasdaq Composite climbed 2.74% and the S&P 500 gained 2.35%, its best day since April. The bounce follows a steep global tech selloff driven by fears that Democrats could restrict data centre construction. Trade Nation’s David Morrison cautioned that investors buying the dip may be acting too early.
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