Asia stocks up as chip stocks recover, oil eases

TOKYO: Asian stocks mostly rebounded after days of losses on Tuesday (Jul 21), led by technology shares, while oil prices eased slightly even as Iran said it had hit US military targets in Bahrain and Kuwait.Tech stocks have fallen in recent trading sessions on ongoing fears that the artificial intelligence sector may be overbought, with chip shares leading the rout.But on Monday US technology stocks advanced and this was mirrored in Asian trade on Tuesday, helping Japan's Nikkei rise 1.75 per cent and the KOSPI in Seoul 3.6 per cent.Stephen Innes of SPI Asset Management cautioned however that the rebound did not appear to be driven by "a decisive improvement in the AI fundamentals". "Big Tech earnings now need to prove that AI revenues, margins and cash flow can justify the scale" of the