Asian stocks rebound as chip shares climb and oil prices ease

Asian stock markets rose Tuesday after a sharp sell-off in semiconductor shares, with South Korea and Taiwan benchmarks gaining about 3% and Japan's Nikkei 225 up 1.7% to 3% depending on the measure cited. The MSCI Asia-Pacific Index climbed 1.7%, helped most by Samsung Electronics and Taiwan Semiconductor Manufacturing. The rebound followed gains in US tech futures and a recovery in chip stocks after recent pressure over lofty artificial intelligence valuations. Oil also pulled back, with Brent crude down 0.7% to about $88.55 a barrel, easing some inflation worries even as traders tracked fresh Middle East tensions and threats to Saudi export routes through the Red Sea and Strait of Hormuz.