HK stocks slip into the red as Nvidia euphoria fades
Stocks mostly rose at the start of the Asia-Pacific trading session on Thursday as Nvidia's latest earnings beat estimates, lifting tech hardware manufacturers and reviving investor confidence after data overnight showed that the US Federal Reserve's preferred inflation measure is still running hot. In Hong Kong, the benchmark Hang Seng Index opened up 121 points, or 0.48 percent, at 25,774 but…
Hong Kong stocks slipped into the red as the euphoria over Nvidia's earnings growth faded on Thursday. The benchmark Hang Seng Index opened higher but quickly slipped to be 0.43 percent lower at 25,541. The tech-heavy index saw a 0.85 percent decline, closing 11 points down at 4,665. China enterprises and Shanghai Composite Indices also showed modest gains.
In contrast, Tokyo's Nikkei saw a 0.78 percent increase, while Seoul's Kospi experienced a 2.76 percent rise. Nvidia's shares jumped 4.7 percent in after-hours trading following its strong quarterly revenue report. Analysts noted that Nvidia's performance signals a bullish market trend, benefiting suppliers in the supply chain. The US inflation data showed slight firmness, with the yield on the 10-year Treasury bond dropping slightly. Brent crude oil prices were down 0.7 percent, with expectations of further decline.
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- Seoul stocks trim early gains late Thurs. morning en.yna.co.kr
