Asian Stocks Rebound Sharply as South Korea Surges 11%, TSMC Returns to NT$1,950

Asian stocks had previously suffered a sharp selloff amid concerns over inflation and the economic outlook, prompting investors to pull money rapidly from risk assets. Confidence stabilized after U.S. economic data eased pressure for interest-rate increases. The simultaneous rebounds in South Korea’s Kospi, Taiwan’s benchmark index and TSMC indicated that global capital was returning to Asian technology stocks.

Asian markets staged a V-shaped reversal on July 20. South Korea’s Kospi surged 11% intraday and came close to triggering a circuit breaker. Taiwan’s market opened down more than 1,000 points before swinging to a gain of more than 1,300 points and reclaiming 41,000. TSMC returned to NT$1,950, while Bitcoin briefly topped $74,000.