Asia Markets: Asian markets gain as tech stocks bounce back

Stock markets extended their gains in Asia early Wednesday, as global technology shares staged a recovery ahead of the U.S. Federal Reserve’s decision on interest rates.

Korea’s Kospi IT subindex was up 0.5% in morning trade, with heavily weighted Samsung 005930, -0.18% adding 0.3%. The benchmark Kospi SEU, -0.25% was flat, however, after posting gains early in the session. In Japan, some electronics stocks rose about 5%, outpacing the Nikkei Stock Average’s NIK, +0.09% 0.4% rise.

“Market sentiment seems to have relatively stabilized with a rebound in [the] U.S. stock market, especially for the technology sector tickets which had been beaten down in the previous sessions,” analysts at OCBC Bank said in a note.

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