Morning Bid: Tech becalmed, April PMIs start rolling in

Asian stocks should have a spring in their step on Tuesday after a positive start to the week locally and globally on Monday, supported by a recovery in tech shares, calm in fixed income markets, and a cooling in geopolitical tensions.

Overall sentiment is fairly buoyant after the S&P 500 and Nasdaq rebounded on Monday, as tech clawed back some of last week's losses and Middle East tensions cooled. Shares in Taiwan Semiconductor Manufacturing Co , the world's largest contract chipmaker, will be looking to bounce back from Monday's 1% fall. That followed a 6% slide on Friday after the company reported first quarter results.

If yields level off, bond volatility is likely to subside, which in turn should help cool volatility in other markets. Implied U.S. equity volatility, which spiked to a six-month high on Friday, posted its biggest fall in six months on Monday.Trump Media's DJT stock price has plunged since its SPAC merger. And it's probably going to get worse once Trump himself can sell shares.

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