Nikkei share index rose by 2% to an all-time peak on Thursday, thanks to cheap valuations and corporate reforms that have lured foreign money looking for alternatives to China's battered markets

US-listed shares of the chip designer, seen as benefitting from investors' hunt for the "next Nvidia", have surged more than 95% in just the last seven trading sessions alone

The Nikkei 225 was up 0.92% at the close in Tokyo on Friday, while the Hang Seng in Hong Kong jumped by 2.4%, and stocks in Australia and India were also boosted

The Nikkei benchmark rose to a 34-year high, while TSMC and other chip-related stocks helped most Asian markets higher on Thursday

The fintech giant's share price has slumped more than 84% since it filed for a blockbuster IPO — India’s largest — eroding $14.5 billion of investor wealth

Japanese shares soared to a 34-year peak on Tuesday, rising 2.9% while stock markets in China were all closed again for the Lunar New Year holiday.

Index provider MSCI raised Indian stocks to an all-time high of 18.2% on Tuesday, which saw it narrow the gap with China, and could lead to inflows of about $1.2 billion

Chinese, Hong Kong, Singapore and South Korean markets were closed for the Lunar New Year, while Japan was also shut for National Day

But how long the market recovery will last remains to be seen, given that broader data out of the world’s second-largest economy continues to disappoint

Cabinet dumps Yi Huiman as chairman of the China Securities Regulatory Commission. He will be replaced by Wu Qing, a veteran securities regulator who had led the Shanghai Stock Exchange

The threat of overpriced shares, as well as possible political change and regulatory uncertainty, have failed to deter the reflow of cash

Officials ramp up moves to stem selloff of Chinese stocks, restricting the amount of cross-border swap deals domestic investors can undertake