Asia stocks rise on Wall Street rebound and Nvidia earnings

Major stock markets across Asia surged on Thursday, following a rebound on Wall Street driven by easing bond market pressure and a decline in oil prices. The rally was further fueled by a stronger-than-expected quarterly earnings report from chipmaker Nvidia.

Nvidia reported that its profit soared more than 200% in the February-April quarter compared to a year earlier, while revenue jumped 85%. The company has been a major beneficiary of the artificial intelligence boom due to strong demand for its high-end AI chips. Its shares rose 1.3% on Wednesday before the earnings release but fell 1.3% in after-hours trading following the announcement.

In Asia, technology-heavy indexes led the gains. South Korea's Kospi index rose sharply, with technology shares like Samsung Electronics and chipmaker SK Hynix, a partner of Nvidia, posting significant gains. Taiwan's Taiex also advanced, driven by a rise in shares of major chipmaker TSMC. Japan's Nikkei 225 index jumped, buoyed by a government report showing the country's exports rose nearly 15% in April from a year earlier. Chinese markets showed more modest increases, while Australia's S&P/ASX 200 also climbed.