Asian shares edge cautiously ahead of Nvidia earnings loom
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Asian markets showed mixed performance on Wednesday, with investors awaiting Nvidia’s earnings report, which could significantly impact the tech sector. Nvidia shares gained 4.9% on Tuesday ahead of the results, with options indicating high expectations and potential volatility of nearly 9%.
Nasdaq futures rose 0.2% following a 1% surge overnight, while EUROSTOXX 50 futures gained 0.4%. However, MSCI's Asia-Pacific index outside Japan fell 0.1%, and Japan's Nikkei slipped 0.2%. Chinese stocks outperformed, with mainland blue chips rising 0.4%, and Hong Kong's Hang Seng index gaining 0.1%.
Bitcoin held above $92,000, supported by optimism about a crypto-friendly U.S. administration under President-elect Donald Trump. Investors are also watching for Trump's choice for Treasury Secretary, expected as soon as Wednesday.
The People’s Bank of China kept benchmark lending rates steady as anticipated. This policy decision aligns with efforts to maintain stability amid ongoing economic concerns.
Safe-haven assets, including the Japanese yen, Swiss franc, and U.S. Treasuries, saw brief gains following geopolitical tensions. Concerns arose after Ukraine used U.S. missiles to strike Russia, prompting Moscow to lower its nuclear threshold. However, these fears have eased somewhat.
The U.S. dollar steadied at 106.23 on the DXY index after declining for three consecutive sessions. Against the yen, the dollar recovered 0.2% to 155.03, rebounding from a one-week low of 153.28 overnight.
Gold extended its rally for a third session, climbing 0.2% to $2,636.46 per ounce, while oil prices were flat. West Texas Intermediate crude held at $69.39 per barrel, showing minimal movement despite a 0.3% rise on Tuesday.
Market focus remains on Nvidia’s CEO commentary during the earnings call, with expectations running high for guidance on FY26 projections. Analysts anticipate strong results but caution against over-exuberance in long-term forecasts.
Nasdaq futures rose 0.2% following a 1% surge overnight, while EUROSTOXX 50 futures gained 0.4%. However, MSCI's Asia-Pacific index outside Japan fell 0.1%, and Japan's Nikkei slipped 0.2%. Chinese stocks outperformed, with mainland blue chips rising 0.4%, and Hong Kong's Hang Seng index gaining 0.1%.
Bitcoin held above $92,000, supported by optimism about a crypto-friendly U.S. administration under President-elect Donald Trump. Investors are also watching for Trump's choice for Treasury Secretary, expected as soon as Wednesday.
The People’s Bank of China kept benchmark lending rates steady as anticipated. This policy decision aligns with efforts to maintain stability amid ongoing economic concerns.
Safe-haven assets, including the Japanese yen, Swiss franc, and U.S. Treasuries, saw brief gains following geopolitical tensions. Concerns arose after Ukraine used U.S. missiles to strike Russia, prompting Moscow to lower its nuclear threshold. However, these fears have eased somewhat.
The U.S. dollar steadied at 106.23 on the DXY index after declining for three consecutive sessions. Against the yen, the dollar recovered 0.2% to 155.03, rebounding from a one-week low of 153.28 overnight.
Gold extended its rally for a third session, climbing 0.2% to $2,636.46 per ounce, while oil prices were flat. West Texas Intermediate crude held at $69.39 per barrel, showing minimal movement despite a 0.3% rise on Tuesday.
Market focus remains on Nvidia’s CEO commentary during the earnings call, with expectations running high for guidance on FY26 projections. Analysts anticipate strong results but caution against over-exuberance in long-term forecasts.