Asian shares fall on tech nerves as oil prices slip
Tech investors await Nvidia’s results amid lofty expectations as analysts expect revenue to nearly double to US$92 billion.
Asian markets experienced a decline on Tuesday due to concerns over technology stocks and a drop in oil prices, following a US threat of sanctions against Iran. The tech sector is anticipating Nvidia's earnings report on Wednesday, with analysts expecting revenue to double and full-year earnings guidance in a specific range. However, the challenges in meeting these expectations and the sustainability of growth in tech deals are being closely monitored.
Alibaba announced a $10.2 billion share sale at a discounted price to fund AI initiatives, while Samsung's shareholder-return plan did not meet expectations. Oil prices continued to slide after the US announced potential sanctions on Iran, although they remained unchanged on Tuesday. The threat of sanctions added to geopolitical risks, potentially impacting trade relations between the US and China.
The US dollar strengthened against the Canadian dollar, while the euro and the British pound weakened slightly. Investors are also awaiting Federal Reserve Chair Kevin Warsh's speech in Jackson Hole, Wyoming, which may provide clarity on US interest rates.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 3 other outlets
- Asian shares are mixed and oil prices hold steady as the US raises pressure on Iran apnews.com
- Asian shares fall on tech nerves as oil prices slip freemalaysiatoday.com
- Asian shares are mixed and oil prices hold steady as the US raises pressure on Iran winnipegfreepress.com
