Asian stocks mixed as Nvidia lifts tech, rate concerns keep gains in check

Asian stocks were mixed on Thursday as Nvidia's upbeat outlook revived confidence in the artificial-intelligence trade, but gains remained uneven due to higher memory costs, persistent inflation, and the prospect of higher interest rates. Nvidia's shares climbed about 4.7% in after-hours trading after the chipmaker reported a second-quarter revenue rise of over 106% year-over-year, and forecasted third-quarter revenue of $108 billion, ahead of expectations.

The results lifted Nasdaq 100 Futures about 0.9% and S&P 500 Futures around 0.5% in Asian trade, while Wall Street's S&P 500 ended roughly flat overnight. However, the response across Asia was far from uniform, with South Korea's KOSPI gaining 1.9%, China's Shanghai Composite and CSI 300 rising 0.6% and 0.5%, respectively, while Japan's Nikkei 225 slipped 0.1% and Hong Kong's Hang Seng fell 0.5%.

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