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The MSCI Asia Pacific Index rose 1.4% as concerns over AI investments continued to ease, with South Korean and Taiwanese stocks hitting all-time highs. Asian chipmakers, seen as bellwethers for AI investment, led gains.

Asian equities climbed and US equity futures recovered as the AI-driven “scare trade” started to show signs of cooling. Asian chipmakers jumped to records — SK Hynix, Samsung, and TSMC — as traders piled back in.

The dollar and US equity futures weakened as renewed ambiguity around trade policy unsettled sentiment toward US assets. S&P 500 futures fell 0.7% and Nasdaq 100 futures dropped 0.8%, while European futures also pointed lower.