Asian shares cautious ahead of Nvidia’s earnings

Asian shares traded cautiously on Wednesday as investors awaited earnings from Nvidia, a key player in artificial intelligence. The dollar stabilised after three days of losses.

Nvidia will report its third-quarter results after the bell. Shares rose 4.9 per cent on Tuesday, with options suggesting a potential 9 per cent move in the $3.6 trillion stock, considered a barometer for the tech sector’s AI shift.

Nasdaq futures edged up 0.2 per cent, while European futures were mostly positive.

In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1 per cent, and Tokyo’s Nikkei slipped 0.2 per cent.

China’s central bank kept benchmark lending rates unchanged, as anticipated. Chinese mainland stocks outperformed, with the CSI 300 index gaining 0.4 per cent, while Hong Kong’s Hang Seng index edged up 0.1 per cent.

Safe-haven currencies like the Japanese yen and Swiss franc gained ground, and US Treasury yields rose. The dollar steadied after three consecutive days of declines. Oil prices remained relatively flat, while gold extended its three-day rally at 0.2 per cent.

Attribution: Reuters

Subediting: M. S. Salama