People walking through the neon lit night streets of Sinchon in the heart of Seoul, South Korea’s vibrant capital city.
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South Korea's Kospi jumped over 12% Thursday, staging a sharp rebound from its worst session, and on course to clock its best day, data from LSEG showed.
Index heavyweights SK Hynix and Samsung Electronics surged more than 15% and 14%, respectively.
The small-cap Kosdaq rose more than 11%.
The Kospi index had plunged 12% on Wednesday, its worst single-day decline.
Asia-Pacific markets jumped Thursday, rebounding after several days of steep losses as sentiment improved following overnight gains on Wall Street and easing concerns over surging oil prices.
"The sell-off was mainly driven by the upside risk around oil prices stemming from the evolving geopolitical developments," said Raisah Rasid, global market strategist at J.P. Morgan Asset Management.
"As South Korea is a major crude oil importer, uncertainty around how far oil prices could rise may weigh on the current account balance and add to inflationary pressures."
"Demand-supply dynamics in the memory chips space is likely to remain tight through this year and possibly the next," Rasid said, adding that the long-term structural drivers for Korean equities remain intact.
Australia's S&P/ASX 200 started the day 0.38% higher.
Japan's Nikkei 225 rose 4%, after sliding 3% in the previous session.
Hong Kong Hang Seng index futures were at 25,534, higher than the last close of 25,249.48.
All eyes are also on China's big policy meeting dubbed the "Two Sessions," which kicked off on Wednesday.
Overnight in the U.S., stocks rose, building on the momentum seen late in the previous session, as the surge in oil prices pulled back following developments in the U.S.-Israeli war on Iran and fears about a U.S. economic growth scare faded.
The Dow Jones Industrial Average added 238.14 points, or 0.49%, to close at 48,739.41. The 30-stock index snapped a three-day run of losses. The S&P 500 gained 0.78% and ended at 6,869.50, while the Nasdaq Composite moved 1.29% higher and settled at 22,807.48.
Technology stocks supported the broader market, particularly those in the chips space. Micron Technology and Advanced Micro Devices each advanced more than 5%. Broadcom and Nvidia climbed more than 1% apiece.
