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Tech Revival Lifts Asian Stock Markets

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Asian stock markets gyrated higher Tuesday on overnight Wall Street cues, as traders sought tech-sector values after recent bear moves.

Shanghai and Tokyo finished in the green, although Hong Kong edged lower. Other regional exchanges largely gained ground.

Seoul's KOSPI Index rebounded upwards by 8.2%, after an 8.3% divot on Monday, as semiconductor-giants SK Hynix and Samsung Electronics led gainers.

In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 2.2% as investors waded back into AI-related shares after three trading days of decline in semiconductor-exposed shares.

The benchmark Nikkei 225 rose 1,392.03 to 65,416.63, as gaining issues outnumbered losers 125 to 98.

Leading the upside was semiconductor-components supplier Taiyo Yuden, up 20%, while materials-house Mitsui Kinzoku declined 4.6%.

In economic news, Japan's machine tool orders in May rose 37.4% on year, reported the Japan Machine Tool Builders Association.

In Hong Kong, the Hang Seng Index opened lower, waffled, but closed down 0.4% as declines in finance and retail shares offset firming in tech and property issues.

The broad gauge Hang Seng fell 91.16 to 24,565.90, as losing issues outnumbered gainers 62 to 27. The Hang Seng TECH Index gained 0.3% on the day, while the Mainland Properties Index rose 0.1%.

Leading the upside was natural-gas supplier ENN, gaining 3.5%, while shipping line Orient Overseas declined 5.2%.

On the mainland, the Shanghai Composite rose 1.3% to 4,010.03.

In economic news, mainland China's exports rose 19.4% on year in May, and imports increased by 27.4%, largely driven by AI and tech-hardware demand, reported the Customs Administration.

On the other regional exchanges, the Taiwan TWSE inclined 2.8%; the Australian ASX 200 declined 0.2%; the Singapore Straits Times Index rose 1.2%, and the Thai Set inclined 1.4%. In late trading in Mumbai, the Sensex was up 0.5%.

The MSCI All Country Asia Pacific Index rose 2.5% on the day.

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