Asian stocks rise as chip selloff eases; Samsung, SK Hynix gain

Asian stocks rose Friday, with the MSCI Asia Pacific Index advancing 0.6% led by South Korean shares, as chip stocks like Samsung Electronics and SK Hynix edged higher following a Wall Street rebound. The S&P 500 closed 0.3% higher Thursday after erasing losses, though Nasdaq 100 futures fell 0.5% in early Asian trading. Treasury yields fell 13 basis points to 5.06% on haven demand, while investors await Federal Reserve Chairman Kevin Warsh's speech in Bangkok. Chip pressure eased after Nvidia CEO Jensen Huang defended AI supplier CoreWeave, whose shares rose 4% following a 12% drop. An equal-weighted S&P 500 climbed 1.4% with healthcare and consumer staples leading, signaling potential rotation beyond AI stocks amid concerns over concentrated tech gains.