Asian Markets Rebound After Tech Stocks Recover; Oil Prices Slip

Asian equity markets rose Thursday as investors returned to US technology and artificial intelligence shares, building on a recovery that began on Wall Street the previous day. Seoul's Kospi gained more than 3 percent and Taipei's benchmark climbed nearly 2 percent. The rebound followed a sharp selloff driven by concerns about Broadcom's revenue outlook, which had weighed on AI-linked stocks. Analysts attributed the earlier decline largely to profit-taking after an extended rally that began in March. Brent crude prices fell, providing additional support to markets. Tensions in the Middle East have eased in recent days, reducing one source of uncertainty for investors. US employment data released Thursday showed job creation in May came in at more than double what analysts had forecast, indicating continued economic strength. The figure fueled debate about the Federal Reserve's next steps on interest rates, though no official response had been announced by late Thursday. Markets in Tokyo, Shanghai, Singapore, Manila and Wellington closed higher, while Hong Kong ended flat and Sydney posted a small decline.