Asia-Pacific markets ended mixed, with auto and tech stocks rising after Nvidia announced solid earnings forecasts for its leading chips and partnerships with automakers in the region.
Memory maker Samsung Electronics, a decades-long partner of Nvidia, rose 2.76%. Taiwan’s TSMC, the world’s largest chipmaker and maker of Nvidia’s advanced AI GPUs, rose 1.36%.
Nvidia CEO Jensen Huang said at Nvidia’s annual developer conference on Monday that he expects orders between Blackwell and Vera Rubin chips to reach $1 trillion by 2027.
However, SK Hynix reversed and fell 0.41%.
Stock prices of Hyundai Motors, Nissan Motors, and Isuzu Motors and China BYD and geely The price rose after Nvidia announced that it would partner with these companies to develop self-driving cars.
Hyundai Motor rose 3.16%, but nissan motors and Isuzu They rose more than 1.19% and 1.43%, respectively. BYD rose 1.18% and Geely rose 4.61%.
Investors are also evaluating developments in the Iran war, with US President Donald Trump considering delaying his meeting with Chinese President Xi Jinping by “about a month” due to the Middle East conflict. President Trump was expected to visit China at the end of March.
International benchmark Brent crude oil rose 3.43% to $103.65 a barrel as of 2:32 a.m. Eastern time, while U.S. West Texas Intermediate rose 3.85% to $97.08 a barrel.
australian S&P/ASX 200 It added 0.36% to close at 8,614.3. Australia’s central bank raised its benchmark policy rate for the second consecutive time to 4.1% on Tuesday. The 25 basis point hike is in line with analyst forecasts polled by Reuters and comes as Australia’s inflation rate remains above the central bank’s 3% limit.
Japanese Nikkei Stock Average The closing price was unchanged at $53,700.39, but TOPIX rose 0.45% to $3,627.07. Korean Kospi The Kosdaq rose 1.63% to close at 5,640.48, while the small-cap Kosdaq fell 0.12% to 1,136.94.
Hong Kong Hang Seng Index rose 0.13% to 25,868.54, while mainland China’s CSI300 fell 0.73% to 4,637.44.
Futures, which track the Dow Jones Industrial Average, fell 46 points, or 0.1%. S&P 500 futures fell 0.1%, and Nasdaq 100 futures fell nearly 0.2%.
Stocks rose in the US overnight while oil prices fell as Wall Street tried to recover from another losing week as investors closely monitored the latest developments in the Iran war.
The Dow Jones Industrial Average rose 387.94 points, or 0.83%, to close at 46,946.41. The S&P 500 rose 1.01% to end at 6,699.38, while the Nasdaq Composite rose 1.22% to settle at 22,374.18.
Meta shares rose more than 2% after reports the company called “speculative” that it plans to lay off more than 20% of its workforce. Additionally, NVIDIA stock rose more than 1% as the GTC conference began on Monday.
—CNBC’s Lim Hui Jie, Sean Conlon and Pia Singh contributed to this report.
