Asian stock markets experienced declines on Thursday, with shares in Japan and South Korea falling alongside Hong Kong equity futures. This downturn was influenced by Nvidia’s disappointing revenue forecast, despite the chipmaker meeting third-quarter expectations. In contrast, Australian shares saw a slight increase.
The reaction to Nvidia’s earnings is expected to have broader implications for global markets due to the company’s significant role in the artificial intelligence sector. Notably, South Korean supplier SK Hynix saw its shares rise by 0.9% following Nvidia’s report. Analysts suggest that Nvidia may have reached its peak performance, as it did not exceed high revenue estimates.
In other news, Bitcoin reached a new all-time high amid growing acceptance of digital assets in the U.S., driven by substantial purchases from companies like MicroStrategy Inc. Meanwhile, geopolitical tensions were highlighted as Ukraine utilized British cruise missiles against Russian targets for the first time during their ongoing conflict.
Investors are also keeping an eye on various economic indicators and political developments in Asia and the U.S., including potential interest rate cuts from the Federal Reserve and upcoming appointments within President-elect Donald Trump’s administration that could impact fiscal policies moving forward.