Selling sentiment across Asian stock markets abated, with Taiwan’s benchmark index closing nearly 5% higher, led by semiconductor stocks.

Following a record sell-off in U.S. tech and AI sectors last week that erased roughly $3 trillion in market value at one point, Asian stock markets saw a notable easing of sell-off sentiment, with some markets turning to rebound. South Korea’s KOSPI index closed 39.91 points lower, or 0.79%, at 5019.78. Japan’s Nikkei 225 index surged 1340.73 points, or 2.33%, to end at 58775.50. Taiwan’s Weighted Index was particularly robust, surging as much as 6.6% intraday to log its largest single-day gain since July, closing up nearly 5%. TSMC, which accounts for nearly 40% of the index’s weighting, rose over 7% in morning trading, driving semiconductor stocks to lead gains across East Asian markets. After last week’s sharp correction, investors resumed buying tech stocks. Overall, some Asian markets on Monday did not extend last week’s steep sell-off, with sentiment partially recovering, laying a foundation for the subsequent rebound in tech stocks.