Asian shares advance as tech shares rebound from AI jitters

BANGKOK -- Asian shares advanced on Monday, lifted by technology shares as they rebounded from last week’s jitters over the run up in stocks related to artificial intelligence.South Korea’s Kospi led the gains, jumping 3.5%.

Computer chip maker SK Hynix, which is cooperating with Nvidia on artificial intelligence, surged 5.5%.Its bigger rival, Samsung Electronics, was up 2.4%.

Tokyo's Nikkei 225 added 1.2% to 50,897.20, lifted by big gains for AI related shares such as chip maker Tokyo Electron, which surged 4.7%.The Hang Seng in Hong Kong rose 0.8% to 26,445.65 and the Shanghai Composite index was barely changed, at 2,630.42.Australia's S&P/ASX 200 was up 0.7% at 8,826.50.Taiwan's Taiex jumped 1.2%, while the Sensex in India gained 0.5%.On Friday, stock indexes closed mixed on Wall Street, clocking their first weekly loss in the last four.

The S&P 500 inched 0.1% higher, to 6,728.80.The Dow Jones Industrial Average added 0.2% to 46,987.10.The technology-heavy Nasdaq fell as much as 2.1%, but recovered most of its losses, shedding 0.2% to 23,004.54.Major indexes wobbled throughout most of the week, weighed down by technology stocks, especially several big names with huge valuations that give them outsized influence over the direction of the market.

Google's parent company, Alphabet, fell 2.1% and Broadcom fell 1.7%.Wall Street remains focused on the latest quarterly reports and forecasts from U.S.companies.Payments company Block, which operates the Square and Cash App businesses, sank 7.7% after turning in results that fell short of forecasts.

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