Tech bounces, Asian stocks rise

Most Asian markets bounced on Friday after the previous day's tech rout fuelled by concerns over the AI boom, with traders also awaiting comments from Federal Reserve boss Kevin Warsh at the IMF's annual gathering. Seoul and Tokyo enjoyed healthy gains in early exchanges, with chipmakers SK hynix and Kioxia among the best performers – having been pummelled Thursday as investors bailed out of the once-dominant AI sector. The Hang Seng Index was up 1.08 percent at 24,323, in mid-morning trade. The Shenzhen Component Index was up 0.57 percent in the mid-morning, trading at 11,883, and the Shanghai Composite Index was also up 0.71 percent at 3,733. (Additional reporting by AFP) Edited by Aaron Tam

2026-10-16 10:39:00