Asian chip stocks rebound ahead of Nvidia earnings as AI trade faces key test

Asian chip stocks rebounded Wednesday as investors positioned for Nvidia's earnings, with South Korea's KOSPI rising 1.8% and Japan's Nikkei gaining 0.9% after last week's sharp selloff in the AI trade. The rebound follows a bruising stretch where elevated Treasury yields made richly valued tech companies less attractive, triggering profit-taking. Nvidia's results, due Wednesday, are seen as the next major test of whether the AI trade can regain momentum, with Wall Street expecting about $92 billion in revenue. South Korean memory stocks led gains, with SK Hynix up 1.9% and Samsung Electronics up 1.8%, both sensitive to Nvidia's outlook as major high-bandwidth memory suppliers. China's tech stocks showed stronger breadth, while Japan's chip complex was more mixed.