Nvidia lifts Asian markets as Fed caution limits gains
Asian stock markets opened mostly higher on Friday as strong earnings from Nvidia revived demand for technology shares. The positive momentum was limited, however, as investors waited for Federal Reserve Chair Kevin Warsh’s closely watched speech at the Jackson Hole symposium.
Technology shares lead the opening
MSCI’s broadest index of Asia-Pacific shares outside Japan edged approximately 0.2 per cent higher during early trading. Sentiment received support from Wall Street, where Nvidia gained almost 9 per cent after reporting robust results and indicating that investment in artificial intelligence infrastructure remained strong.
The results helped reassure investors that demand for advanced processors, data centres and related technology services could remain resilient. Asian markets with significant semiconductor exposure were among the clearest beneficiaries.
Japan and Taiwan advance
Japan’s Nikkei 225 gained approximately 0.5 per cent after the opening bell. Information technology services companies helped lead the advance, with Fujitsu and NEC recording particularly strong early gains.
The dollar traded near 159.33 yen, little changed from the previous Tokyo close. The relatively stable exchange rate allowed investors to focus on corporate earnings and the global technology rally.
Taiwan’s Taiex rose around 0.8 per cent, supported by the island’s large semiconductor sector and its close connection to Nvidia’s international supply chain.
Hong Kong rises as mainland China stays flat
Hong Kong’s Hang Seng Index added about 0.4 per cent, while mainland China’s Shanghai Composite remained close to unchanged.
Chinese markets received some support after S&P Global Ratings affirmed China’s A+ sovereign credit rating with a stable outlook. The agency expects continued fiscal support to help economic growth remain above 4 per cent over the coming one to two years.
Investors nevertheless remained cautious about weak domestic consumption and the continuing downturn in China’s property sector.
South Korea moves against the trend
South Korea’s Kospi fell approximately 1.5 per cent, making it the weakest major regional benchmark during the early session.
The decline contrasted with gains in other technology-heavy markets. Investors appeared to take profits after the Kospi’s strong performance earlier in the year, while concerns about high valuations and changing global interest-rate expectations continued to affect sentiment.
Australia and India record modest gains
Australia’s S&P/ASX 200 initially gained around 0.3 per cent, supported by technology companies, banks and selected resource shares. The Australian dollar traded close to a three-month high of US$0.72 after stronger inflation data prompted markets to reconsider the outlook for domestic interest rates.
Indian equities also moved higher after two consecutive sessions of losses. The Nifty 50 gained 0.22 per cent, while the Sensex added 0.36 per cent during morning trading. India’s IT index jumped approximately 3 per cent as investors responded to Nvidia’s results, although most other major sectors declined.
Markets wait for direction from the Fed
The principal event for investors remained Warsh’s Jackson Hole address. Futures markets indicated approximately a 35 per cent probability of a US interest-rate increase in September, with a move fully priced by December.
The dollar was broadly stable, while gold declined by around 0.5 per cent. Brent crude slipped 0.4 per cent to approximately $89.33 a barrel and was heading towards a weekly fall of more than 5 per cent.
Friday’s opening showed that enthusiasm surrounding artificial intelligence remains capable of supporting Asian equities. The uneven regional performance also demonstrated that investors are unwilling to make larger commitments before receiving clearer guidance on US inflation and interest rates.
Newshub Editorial in Asia – 28 August 2026
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