Nvidia results and Asia tech stocks are being closely monitored by investors, leading to a lower open in Asia-Pacific markets.

Nvidia results and Asia tech stocks are being closely monitored by investors, leading to a lower open in Asia-Pacific markets.
Nvidia results and Asia tech stocks are being closely monitored by investors, leading to a lower open in Asia-Pacific markets.
  • The region, which is home to companies in Nvidia's value chain such as Taiwan Semiconductor Manufacturing Company and SK Hynix, will be closely monitored by investors in Asia for any spillover to tech stocks in the region.

The stock market in Asia-Pacific is predicted to open lower on Thursday, following the decline on Wall Street, as investors evaluate the financial results of Nvidia, a tech giant.

Wall Street expectations were surpassed by Nvidia's second-quarter earnings, which also included stronger-than-expected guidance for the current quarter. Additionally, the company authorized an additional $50 billion share buyback.

Although revenue for the second quarter was $30 billion, an 8% decline in the firm's shares occurred in extended trading.

Nvidia's value chain companies, such as SK Hynix, are located in Asia, and investors in the region will closely monitor any impact on tech stocks in the area.

The futures market in Japan is predicted to have a weaker opening, with the Chicago contract at 37,960 and the Osaka contract at 38,150, compared to the previous close of 38,371.76.

The S&P/ASX 200 futures for Australia were at 8,040, a slight decrease from its previous close of 8,071.4.

The HSI's last close was higher than Hong Kong futures, which were at 17,648.

In the U.S., the Nasdaq Composite and S&P 500 both fell during regular trading, with the Nasdaq Composite declining by 1.12% and the S&P 500 slipping by 0.6%.

The Dow Jones Industrial Average lost 159.08 points, or 0.39%.

The report was contributed to by Lisa Kailai Han, Hakyung Kim, and Kif Leswing of CNBC.

by Lim Hui Jie

Markets