Stock market today: Asian shares are mixed, with China stocks down, after Wall St retreat
Asian shares are trading mixed, as investor sentiment in Tokyo was boosted by news in the U.S. about soaring Nvidia earnings
TOKYO — Asian shares were trading mixed Thursday, as investor sentiment in Tokyo was boosted by news of soaring Nvidia earnings.
Japan's benchmark Nikkei 225 gained 1.3% to 39,103.22. Australia's S&P/ASX 200 sank 0.5% to 7,811.80. South Korea's Kospi added 0.1% to 2,726.33. Hong Kong's Hang Seng slipped 1.6% to 18,892.21, while the Shanghai Composite shed 1.2% to 3,120.35.
Semiconductor related issues were boosted by news that Nvidia's profit skyrocketed above forecasts, with quarterly net income climbing more than sevenfold from a year earlier to $14.88 billion. Revenue more than tripled for what's become the iconic brand behind the recent artificial intelligence boom.
Also in Asia, the Bank of Korea kept its policy rate unchanged, as was widely expected.
On Wall Street, indexes retreated from their records as concerns about high interest rates weighed on the market.
The S&P 500 fell 0.3% to 5,307.01, a day after setting its latest all-time high. The Dow Jones Industrial Average sank 0.5% to 39,671.04, and the Nasdaq composite slipped 0.2% to 16,801.54 after after setting its latest record.
Indexes were close to flat early in the day, but slunk lower after the Federal Reserve released the minutes of its last policy meeting. They showed Fed officials suggesting it “would likely take longer than previously thought” to get inflation fully under control following disappointingly high readings early this year.
And even though Fed Chair Jerome Powell said after that meeting that the Federal Reserve is more likely to cut rates than to hike them, the minutes said “various participants” were willing
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