BY ELAINE KURTENBACH
Asian shares were mostly higher on Monday after U.S. stocks bounced back from Wall Street’s worst day since April to finish higher for the week.
U.S. futures slipped while oil prices advanced.
Tokyo’s Nikkei 225 added 0.3% to 38,758.96 and the Kospi in Seoul jumped 0.7% to 2,705.87.
Australia’s S&P/ASX 200 surged 0.7% to 2,705.87 and the Shanghai Composite index gained 0.3% to 3,097.86 as the government reported corporate profits rose 4.3% year-on-year in January-April.
Hong Kong’s Hang Seng slipped 0.2% to 18,576.65.
Taiwan led the advance, with heavy buying of computer chip-related shares pushing the Taiex up 1.3% to a fresh record. MediaTek, a semiconductor company that provides chips for wireless communications, high-definition television and handheld mobile device jumped 8.4%.
Taiwan Semiconductor Manufacturing Corp. logged a more modest 0.5% gain.
“The robust global semiconductor cycle is positive for Taiwan’s growth outlook,” Raymond Yeung and Bansi Madhavani
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