Asian stocks rebounds after AI sell-off, Taiwan’s Taiex leads gains

• Asian stock markets mostly trade positive on Monday.
• Taiwan's benchmark leads gains, rising by 5.30% on the day.
• Markets rebound after a tech rout triggered by Democrats’ sweeping victory in US midterm elections.

Asian equities mostly trade in positive territory on Monday. Nervous calm after a volatile week when ‌tech-heavy markets in Asia suffered some of their steepest falls in years over Artificial Intelligence (AI).

Taiwan's benchmark, TAIEX, climbed around 5.30% to 41,800. The index recovers after notching up its steepest weekly drop in two decades last week, when fears about AI profitability and infrastructure demand sparked a rout following wins by Democrats at the US midterm elections.

Meanwhile, a company-led investigation by industry bellwether Nvidia into whether its CEO Jensen Huang had been the target of a foreign spying effort could also stoke volatility, analysts said.

The Nikkei 225, Japan’s benchmark, rose 2.90% to 59,090. According to the BoJ minutes of the September meeting released last week, most of the policymakers agreed that further interest rate increases would be appropriate as underlying inflation approached the central bank's 2% target.

The SHANGHAI, China’s main stock market index, gained by 0.35% to 3,660. The Hong Kong Stock Exchange increased by 0.13% to 24,520. The Shenzhen Stock Index declined by 0.14% to 11,160.