5 days ago
Asian Stocks Mixed as Nvidia Boosts AI Market Optimism
Asian stock markets did not all move in the same direction on Thursday.
Some markets rose, while others fell slightly.
Investors were watching Nvidia because its AI-chip sales were very strong.
Nvidia’s revenue more than doubled from a year earlier, helping U.S. stock futures rise.
However, some investors worry that companies are spending too much money on artificial intelligence.
They are not sure whether AI companies will earn enough profits quickly enough.
New U.S. data also showed economic growth slowed to a 1.5% pace and inflation stayed higher than the Federal Reserve wants.
Oil prices went down during the trading session.
Asian markets moved unevenly Thursday after modest Wall Street losses and ahead of higher U.S. futures.
South Korea’s Kospi rose 1.5%, while Japan’s Nikkei 225 fell 0.2% and Hong Kong’s Hang Seng declined 0.4%.
Nvidia reported that quarterly revenue more than doubled, beating Wall Street expectations as demand for AI chips surged.
U.S. data showed the economy grew at a revised 1.5% annualized pace in April-June, while inflation remained above the Federal Reserve’s target.
Oil prices fell, with Brent crude down 0.5% to $86.49 per barrel and U.S. crude down 0.5% to $81.84.
- Who
- Asian and U.S. investors, Nvidia, and major stock markets including Japan, South Korea, Hong Kong, Shanghai, Taiwan and Australia.
- What
- Asian stocks were mixed after modest Wall Street losses, while Nvidia’s strong quarterly results lifted U.S. futures and renewed attention on AI-related investments.
- Where
- Stock markets across Asia and the United States; the economic data concerned the United States.
- When
- Thursday, following Wall Street’s Wednesday session and Nvidia’s earnings announcement after markets closed.
- Why
- Markets responded to Nvidia’s stronger-than-expected results, concerns about a possible AI investment bubble, U.S. growth and inflation data, and falling oil prices.
AI Growth Optimists
AI Bubble Concerns
Value of AI investment
AI Growth Optimists
Nvidia’s revenue more than doubled, demand for its advanced AI chips surged, and its results helped lift U.S. stock futures.
AI Bubble Concerns
Some investors worry that major technology companies may not generate enough profits soon to justify their rising AI-related costs.
Key facts
- Nikkei 225
- Japan’s index fell 0.2% to 66,162.72.
- Kospi
- South Korea’s index rose 1.5% to 6,909.81.
- Hang Seng
- Hong Kong’s index fell 0.4% to 25,548.83.
- Nvidia results
- Revenue for the May-July quarter more than doubled from a year earlier and exceeded Wall Street expectations.
- U.S. economic growth
- The economy grew at a revised 1.5% pace in April-June.
- U.S. inflation
- The preferred Federal Reserve inflation measure was 3.7% last month, above the Fed’s 2% goal.
- Oil prices
- Brent crude fell 0.5% to $86.49 per barrel, while U.S. crude fell 0.5% to $81.84.
Sources
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