Stocks in Asia staged a cautious recovery from Tuesday’s global tech-led selloff that renewed concerns that the artificial intelligence-driven equity rally may have run too far, too fast.
The MSCI Asia Pacific Index rose nearly 1% in early trading after slumping 3.6% on Tuesday, the most since early March. The chip-heavy Kospi climbed about 4% after tumbling 10% in the previous session. Shares of Samsung Electronics Co. surged 10%, almost erasing Tuesday’s losses, bolstered by a report that it may announce a buyback. US equity futures also rose after the Nasdaq 100 plunged 3.3% and the S&P 500 fell 1.4%.
