Nvidia’s H100 chips are installed in a server room at Yotta Data Services’ data center in Navi Mumbai, India, as reported on March 14, 2024. The Asia-Pacific markets experienced a decline on Thursday, influenced by investor reactions to technology shares following Nvidia’s impressive financial results. The chipmaker announced a 94% year-on-year revenue increase for the third quarter, reaching $35.08 billion, though this marks a slowdown compared to the prior quarters’ exceptional rises of 122%, 262%, and 265%. Nvidia’s net income surged to $19.3 billion, up from $9.24 billion in the same quarter the previous year.
In regional market movements, Japan’s Nikkei 225 dropped by 0.67%, with Topix falling 0.22%. The biggest loser in the Nikkei was Advantest, which saw a decline of over 3% after detailing its ties with Nvidia in 2023. Conversely, South Korea’s Kospi edged up by 0.25%, despite the Kosdaq slipping 0.46%. Notably, Nvidia supplier SK Hynix increased by 0.41%, and Samsung Electronics by 0.54%. In other markets, Australia’s S&P/ASX 200 remained near neutral, while Hong Kong’s Hang Seng index decreased by 0.31%, and China’s CSI300 by 0.14%.
In the U.S., the S&P 500 remained steady on Wednesday, with Nvidia shares dipping almost 1% before its earnings announcement. Meanwhile, the Nasdaq Composite saw a slight decline of 0.11%, closing at 5,917.11, while the Dow Jones Industrial Average stood out with a gain of 0.32%. Investors also weighed Target’s underwhelming results. Furthermore, attention is focused on Indian stocks linked to Gautam Adani, following legal troubles involving Adani Group’s chair in New York related to alleged bribery and fraud.
— This report includes contributions from CNBC’s Samantha Subin and Brian Evans. Correction: A previous version of this story was revised to accurately represent the Hang Seng’s Wednesday close.
Original Story https://www.cnbc.com/2024/11/21/asia-markets.html
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