Low-angle view of Tokyo’s skyscrapers showing a variety of architectural styles
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Asia-Pacific markets were mixed on Friday after US stocks fell overnight as Nvidia shares fell despite a better quarterly profit.
Japanese Nikkei Stock Average Although the index fell by 0.6%, TOPIX remained unchanged. Japan’s benchmark index reached 59,000 for the first time on Thursday, but has since risen slightly.
South Korea’s Kospi fell 1.1%, and the small-cap Kosdaq fell 0.35%.
Hong Kong Hang Seng Index rose by 0.68%, while CSI300 fell by 0.49%.
Australia’s S&P/ASX 200 was flat in early trading.
Asian tech stocks fell in early trading. SK Hynix, a major supplier of high-bandwidth memory to Nvidia, fell more than 2%. Nvidia’s decades-long partner Samsung Electronics fell 0.69%.
Softbank GroupThe company, a major investor in AI companies, fell more than 3%.
The S&P 500 index fell overnight in the US after the latest financial results from technology giant Nvidia and software giant Salesforce failed to lift the overall market.
The broader market index fell 0.54% to end at 6,908.86, and the Nasdaq Composite Index fell 1.18% to end at 22,878.38. The Dow Jones Industrial Average rose 17.05 points, or 0.03%, to settle at 49,499.20.
Nvidia’s stock price fell more than 5% even though the semiconductor giant reported higher fourth-quarter profits and sales. It was the worst day for stock prices since April. Other semiconductor stocks also fell, including Broadcom, Lam Research, Western Digital and Applied Materials.
—CNBC’s Sean Conlon and Pia Singh contributed to this report.
