Asian shares mostly gain after upbeat results for Nvidia and others lift US stocks
Summary
Asian stock markets mostly rose on Friday after strong earnings reports from tech companies like Nvidia boosted U.S. stocks. While South Korea's main index fell slightly, other markets in Tokyo, Hong Kong, Australia, and Taiwan saw moderate gains. Investors are also watching for a Federal Reserve speech that could affect inflation policy.Key Facts
- Nvidia’s latest quarterly profits and revenue were higher than analysts expected.
- Nvidia’s stock rose 8.7%, driven by strong demand for AI-related computer chips.
- Salesforce’s stock jumped 22.6% after reporting a very strong quarter helped by AI technology.
- Other Asian markets mostly gained: Tokyo’s Nikkei rose 0.8%, Hong Kong’s Hang Seng 0.3%, Australia’s S&P/ASX 200 0.3%, and Taiwan’s Taiex surged 1%.
- South Korea’s Kospi index fell 1% to 6,841.50.
- U.S. futures were mostly unchanged, while oil prices fell slightly on Friday.
- The price of Brent crude oil was $88.24 per barrel, down 0.3%; U.S. crude oil was $83.17 per barrel, down 0.4%.
- Investors are awaiting a speech from Federal Reserve Chairman Kevin Warsh, who is expected to provide limited guidance on inflation policy.
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