On Thursday morning (29 August, 9:33 AM, GMT+7, Bangkok time), most indices in Asia Pacific declined as tech stocks exerted downward pressure on South Korean and Taiwanese indexes in the aftermath of chipmaker Nvidia revealing its second-quarter performance.
Nvidia exceeded Wall Street’s expectations with its second-quarter earnings report and offered a robust outlook for the current quarter.
The company posted revenue of $30 billion, marking a 15% increase from the previous quarter and a substantial 122% rise from the same period last year. Despite this positive performance, the tech giant’s shares dipped by 8% in after-hours trading following the release of its FYQ3’25 guidance. The company projected revenue for the upcoming quarter to be around $32.5 billion, with a margin of error of 2%. While this guidance exceeded the average estimate of $31.9 billion, it fell short of the most optimistic projection of $37.9 billion.
Japan’s NIKKEI slid by 0.35% to 38,237.47. South Korea’s KOSPI dropped by 0.85% to 2,667.08, and Australia’s ASX 200 contracted by 0.61% to 8,022.4.
As for stocks in China, Shanghai’s SSEC declined by 0.75% to 2,816.26. Hong Kong’s HSI lost 0.86% to 17,540.01, while Shenzhen’s SZI climbed by 0.23% to 8,097.76.
Meanwhile, the US stock markets edged down on Wednesday as the Dow Jones Industrial Average (DJIA) dipped by 0.39% to 41,091.42. NASDAQ slumped by 1.12% to 17,556.03, and S&P 500 shrank by 0.6% to 5,592.18. VIX jumped by 10.89% to 17.11.
As for commodities, oil prices settled lower on Wednesday following a smaller-than-anticipated reduction in U.S. crude inventories and ongoing apprehensions regarding Chinese demand. However, the drop was mitigated by supply uncertainties in the Middle East and Libya. Brent futures fell 90 cents or 1.13% to settle at $78.65 a barrel, and the West Texas Intermediate (WTI) decreased $1.01 or 1.34% to settle at $74.52 per barrel.
This morning, Brent futures rose 15 cents or 0.19% to $78.8 a barrel, and the WTI gained 22 cents or 0.3% to $74.74 per barrel.
Meanwhile, gold futures increased by 0.33% to $2,546.3 per Troy ounce.
