Asia Bounces Back Amid Easing Tensions in the Middle East

Asian equities rebounded on Thursday after a sell-off in the previous session, driven by gains in chip-related stocks and a stronger yen.

The MSCI's Asia-Pacific equities gauge rose 1.1% as US President Donald Trump played down the prospect of a prolonged conflict with Iran, easing pressure on oil prices.

Chip stocks such as Renesas Electronics and SK Hynix climbed after Broadcom predicted a boom in artificial intelligence chip sales over the next two years.

The yen strengthened to 157.63 per US dollar, sparking speculation about possible intervention by authorities.