News Formal

Asian Stocks Rise as Tech Shares Track Nvidia Rally, Japan's BOJ Signals Less Hawkish Stance

  • 📰 Investingcom
  • ⏱ Reading Time:
  • 58 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 43%
  • Publisher: 53%

Finance News

Asian Stocks,Technology,Nvidia

Asian markets mostly advanced on Thursday, fueled by a surge in technology stocks that mirrored an overnight rally in Nvidia. Meanwhile, Japanese equities experienced a notable boost following a softer-than-expected producer inflation reading, which countered recent hawkish signals from the Bank of Japan.

Investing.com-- Most Asian stocks rose on Thursday with technology shares tracking an overnight rally in market darling Nvidia, while Japanese markets soared as a soft reading on producer inflation undermined hawkish signals from the Bank of Japan. The BOJ's recent comments about potential rate hikes were somewhat overshadowed by the softer-than-expected inflation data, providing a more sobering outlook on interest rate cuts.

Markets were seen positioning for a 25 basis point rate cut by the BOJ in the near future. The reading somewhat undermined recent comments from BOJ officials that interest rates will need to rise further, especially given that any further rate hikes by the BOJ are largely contingent on inflation moving higher., with analysts uncertain over whether the central bank will hike interest rates again. But softer inflation gives the central bank less immediate impetus to raise rates. BOJ board member Naoki Tamura said on Thursday that the bank needed to raise interest rates to at least 1% to avoid inflationary risks.Tech- particularly chipmakers- rose tracking an over 8% overnight rally in Nvidia, after comments from its CEO furthered the notion that AI demand will help support tech valuations even as broader economic conditions deteriorate. Alibaba (BABA) rose 1% after a Reuters report said the firm was planning global job cuts of up to 30% of roles in some divisions., with all three moving in a flat-to-low range. Sentiment towards China was battered by reports of U.S. lawmakers preparing more trade restrictions on the country

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 450. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian chipmaking stocks sink tracking Nvidia lossesAsian chipmaking stocks sink tracking Nvidia losses
Source: Investingcom - 🏆 450. / 53 Read more »

Asian chip stocks fall after Nvidia sell-off on Wall Street overnightIn the U.S., chipmaker Nvidia plunged more than 9% in regular trading, leading semiconductor stocks lower amid a sell-off on Wall Street.
Source: nbcchicago - 🏆 545. / 51 Read more »

Asian stocks drift lower amid mixed Japan cues; Powell speech loomsAsian stocks drift lower amid mixed Japan cues; Powell speech looms
Source: Investingcom - 🏆 450. / 53 Read more »

Asian stocks muted ahead of economic data; Japan surges in catch-up tradeAsian stocks muted ahead of economic data; Japan surges in catch-up trade
Source: Investingcom - 🏆 450. / 53 Read more »

Asian stocks rise on US inflation cheer, positive data from Japan, ChinaAsian stocks rise on US inflation cheer, positive data from Japan, China
Source: Investingcom - 🏆 450. / 53 Read more »

Japan stocks lift Asian market higher after US retail data boost Wall StreetJapanese stocks are leading gains in Asian markets after Wall Street close to its record heights as data showed the U.S. economy is holding up better than expected.
Source: ksatnews - 🏆 442. / 53 Read more »