Asian stocks rebounded from one-month lows, driven primarily by a surge in semiconductor shares following a recovery on Wall Street. The MSCI Asia-Pacific index rose 0.55%, with Taiwan's TSMC gaining 2% and South Korean chipmakers also seeing positive movements amid strong demand. Investors are focusing on the upcoming tech earnings from Tesla and Alphabet, which are expected to reinvigorate market sentiment. Political uncertainties, including Joe Biden's exit from the presidential race and support for Kamala Harris, have not significantly dampened investor confidence. Despite concerns over high valuations and seasonal weakness, traders remain optimistic about economic growth and the potential impact of earnings reports. Treasury yields have edged higher ahead of key economic readings, while the yen strengthened against the dollar as traders adjust their positions for the summer holidays.