Asian shares surge as markets regain momentum after recent volatility

TOKYO (AP) — Asian shares surged on Tuesday, led by a 5% jump in South Korea’s benchmark and a 3% rally in Tokyo's Nikkei 225 index as investors bought tech-related shares.

Markets are awaiting earnings reports from major companies to gauge the impact of various trends including U.S. President Donald Trump’s tariffs and possible curbs on rare earths exports from China.

Japan's benchmark Nikkei 225 climbed 3.2% to 54,346.33. Shares in equipment maker Disco Corp. jumped 6% while those in testing equipment maker Advantest gained 5.6%.

In South Korea, the Kospi gained 5% to 5,197.86, rebounding to near its record after a rout on Monday that led to automatic brief suspensions of trading. Investors appeared to regain confidence after the latest scare over a possible bubble in artificial intelligence as shares in Samsung Electronics Co. soared 6.9% while those in chip maker SK Hynix rocketed up 7.5%.

Hong Kong's Hang Seng was nearly flat at 26,786.47, while the Shanghai Composite added 0.4% to 4,031.07.

Australia’s S&P/ASX 200 edged up 1.2% to 8,880.20 ahead of an interest rate decision by the central bank.

Investors are awaiting more earnings reports from major companies to gauge the impact of various trends including U.S. President Donald Trump’s tariffs and possible curbs on rare earths exports from China.

On Monday, U.S. share prices rose while gold and silver prices sank further following their latest wild moves. The S&P 500 added 0.5% to 6,976.44, snapping a three-day losing streak. The Dow Jones Industrial Average rose 1.1% to 49,407.66, and the Nasdaq composite gained 0.6% to 23,592.11.

Sandisk leaped 15.4% to lead the S&P 500. The data-storage company added to its 6.9% gain from Friday, after it reported stronger profit for the latest quarter than analysts expected. It credited demand created by the artificial-intelligence boom, among other things. That helped offset a 2.9% drop for Nvidia, whose chips are powering much of the world’s move into AI technology.

The Walt Disney Co. fell 7.4% even though the entertainment giant reported a stronger profit for the latest quarter than analysts expected. It warned of challenges, such as international visitors declining at its U.S. theme parks.

The center of action in financial markets was again precious metals, where prices have yoyoed after stellar gains. Gold’s price have roughly doubled in just 12 months.

Gold gained 3.4% on Tuesday, while silver’s price rebounded by 7.5%.

Gold and silver prices have surged as investors search for safer things to own at a time of uncertainty over the status of the Federal Reserve, which may be set to become less independent, a U.S. stock market that critics say is expensive, threats of tariffs and heavy debt loads for governments worldwide.

Their prices cratered on Friday, including a 31.4% plunge for silver. Some on Wall Street saw it as a result of President Donald Trump’s nomination of Kevin Warsh as the next chair of the Fed.

The Fed’s chair has a big influence on the economy and markets worldwide by helping to dictate where the U.S. central bank moves interest rates. That affects prices for all kinds of investments, as the Fed tries to keep the U.S. job market humming without letting inflation get out of control.

In other dealings early Tuesday, benchmark U.S. crude fell 14 cents to $62.00 a barrel. Brent crude shed 22 cents to $66.08 a barrel.

The U.S. dollar declined to 155.42 Japanese yen from 155.61 yen. The euro cost $1.1812, up from $1.1791.

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AP Business Writer Stan Choe contributed.

Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama