Asian shares are mixed as tech stocks rebound from sell-offs, while oil prices slip

Asian shares were mixed Tuesday, with tech shares leading gains after Wall Street recovered some of its sell-off from last week.

Oil prices fell back after surging on Monday as fighting flared between Israel and Iran, threatening to pull the region back into full-scale war.

Tokyo’s Nikkei 225 gained 1% to 64,654.22. Computer chip equipment maker Tokyo Electron gained 7.5% and other technology stocks were among the biggest gainers.

In South Korea, the Kospi jumped 3.5% to 7,743.65, after Monday’s loss of more than 8%. SK Hynix, which on Monday announced plans to partner with Nvidia in building data centers, jumped 7.7%. Samsung Electronics was up 3.6%.

Taiwan’s Taiex advanced 2.2% on gains for tech companies like computer chip giant TSMC.

Hong Kong’s Hang Seng lost 0.4% to 24,553.93 and the Shanghai Composite index added 0.3% to 3,970.17.

The S&P/ASX 200 lost 0.5% to 8,580.60.

On Wall Street on Monday, the S&P 500 added 0.3%, coming off a 2.6% drop Friday that was its worst since October. It closed at 7,405.73.

The Dow Jones Industrial Average dipped 0.2%, and the Nasdaq composite climbed 0.9%.

All told, the S&P 500 rose 21.99 points to 7,405.73. The Dow Jones Industrial Average dipped 80.77 to 50,786.01, and the Nasdaq composite gained 220.23 to 25,929.66.

Some of the best performers were companies that sell computer chips, memory and other AI-related products that had plunged on worries their prices have shot too high.

Micron Technology rose 9.9% after sliding 13.3% Friday for the largest loss in the S&P 500. That resumed a run where its stock has more than tripled so far in 2026.

Marvell Technology climbed 9.6% in its first trading after S&P Dow Jones Indices said the semiconductor company’s stock has grown enough to join its widely followed S&P 500 index. Marvell’s stock has also more than tripled so far this year, aided by a 32.5% surge in one day last week. That was its best day since it began trading in 2000, and it came after Nvidia’s CEO, Jensen Huang, suggested at a conference in Taiwan that Marvell could be “the next trillion-dollar company.”

That such a comment could add billions of dollars to a company’s value in an instant suggests to critics that AI stocks are running too hot. A widely followed index of semiconductor stocks surged nearly 85% for the year so far through Thursday, for example.

Early Tuesday, oil prices fall back from gains on Monday. back into full-scale war. The price for a barrel of Brent crude oil, the international standard, fell 41 cents to $93.84 per barrel. It had briefly topped $98 overnight.

U.S. benchmark crude shed 47 cents to $90.83 per barrel.

High oil prices caused by the war with Iran have already sent inflation higher, which increases not only bills for households but also yields in the bond market. High yields worldwide recently have threatened to slow economies and undercut prices for stocks and all kinds of other investments.

In currency trading, the dollar rose to 160.20 Japanese yen from 160.17 yen. The euro climbed to $1.1540 from $1.1532.

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AP Business Writers Matt Ott and Stan Choe contributed to this report.