Asia Falls On Nvidia Results
Date
11/23/2024 6:41:46 AM
(MENAFN- Baystreet)
Asia-Pacific markets fell Thursday, with investors watching tech shares in the region after chipmaker Nvidia reported better-than-expected results.
In Japan, the NIKKEI 225 index plummeted 326.17 points, or 0.9%, to 38,026.17.
Semiconductor equipment supplier Advantest, which disclosed its relationship with Nvidia in 2023, pared losses to close 1.6% lower.
In Hong Kong, the Hang Seng Index withered 103.9 points, or 0.5%, to 19,601.11.
Nvidia reported a 94% year-on-year surge in revenue for the third quarter to $35.08 billion. However, that is still a consecutive slowdown from the previous three quarters, when sales rose 122%, 262%, and 265%, respectively.
Net income during the quarter rose to $19.3 billion, versus $9.24 billion in the same period a year ago.
Korean markets were flat Thursday. Nvidia supplier SK Hynix reversed gains to drop 1.06%, while heavyweight Samsung Electronics gained 1.99%.
In other markets
In Shanghai, the CSI 300 edged up 3.53 points, or 0.1%, to 3,989.30.
In Taiwan, the Taiex slumped 132.7 points, or 0.6%, to 22,555.66.
In Korea, the Kospi index faded 1.66 points, or 0.1%, to 2,480.63.
In Singapore, the Straits Times Index fell 4.42 points, or 0.1%, at 3,739.22.
In New Zealand, the NZX 50 regained 28.18 points, or 0.2%, to 12,765.24
In Australia, the ASX 200 faltered 3.33 points, or 0.04%, to 8,322.96
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