Asian stock markets climb after earlier tech rout

Asian stock markets have rebounded after last week's tech rout triggered by the Democratic Party's sweeping victory in the US midterm elections.

Key points

• Futures for Wall Street's benchmark S&P 500 index and the tech-heavy Nasdaq 100 were up 0.60 percent and 0.59 percent, respectively.
• In Tokyo, the benchmark Nikkei 225 was up 3.45 percent as of 04: 00 GMT.
• After a rebound on Wall Street on Friday, key indexes in Japan, South Korea, Taiwan and Hong Kong created substantial gains on Monday.
• While the Kospi in Seoul was up 1.68 percent, in Taipei, the Taiex was 5.72 percent higher.
• The board remarked Huang backed the inquiry and pledged his full cooperation.

While the Kospi in Seoul was up 1.68 percent, in Taipei, the Taiex was 5.72 percent higher. Hong Kong's Hang Seng Index was up 0.19 percent.

They had dipped earlier after US-based chip giant Nvidia's announcement that it would investigate its CEO over a romantic relationship he conducted with a woman accused of being a Chinese spy.

According to Nvidia's board of directors, while it had confidence in CEO Jensen Huang and had no reason to believe that national security or business secrets were compromised, the independent inquiry would examine "all available information".

In practice, the board remarked Huang backed the inquiry and pledged his full cooperation.

"The Board prioritizes U.S. National and economic security, which is paramount to the interests of NVIDIA and its shareholders, " the firm stated.

Notably, the stock market rebound comes after the US midterm results prompted a $2.5 trillion sell-off on Wall Street on Thursday against the backdrop of worries that Democratic-controlled legislatures could slow the rollout of data centres applied to power AI.

Notably, the tech rout spilled into Asia on Friday, with the Nikkei 225 and Kospi plunging regarding 6 percent and 9 percent, respectively, and the Hang Seng Index dropping more than 1 percent.

Taken together, the developments around asian stock markets climb after earlier tech rout point to a situation that is still moving, and the coming days should bring more clarity.