Global Markets:
- Asian Stock Markets : Nikkei down 0.81%, Shanghai Composite up 0.02%, Hang Seng down 0.27% ASX down 0.07%
- Commodities : Gold at $2658.35 (0.24%), Silver at $31.2 (0.48%), Brent Oil at $72.94 (0.16%), WTI Oil at $68.9 (0.19%)
- Rates : US 10-year yield at 4.406, UK 10-year yield at 4.469, Germany 10-year yield at 2.341
News & Data:
- (USD) Crude Oil Inventories 0.5M vs -0.1M expected
Markets Update:
Asia-Pacific markets largely declined on Thursday, with investors focused on tech shares following Nvidia’s robust quarterly results. The chipmaker reported a 94% year-on-year revenue surge to $35.08 billion for the third quarter, though growth slowed compared to prior quarters’ triple-digit gains. Net income rose to $19.3 billion, nearly doubling from $9.24 billion a year ago.
Indian markets faced turbulence as Adani Group stocks plummeted after its chairman, Gautam Adani, was indicted in a New York federal court on charges related to bribery and fraud. Flagship Adani Enterprises plunged 20%, Adani Green Energy fell 18.19%, and other group companies like Adani Power, Adani Ports, and Adani Wilmar saw losses between 10% and 20%. The Nifty 50 and BSE Sensex dropped 0.84% and 0.8%, respectively.
Japan’s Nikkei 225 declined 0.8%, with the Topix down 0.54%. Semiconductor supplier Advantest, linked to Nvidia, lost 3%. In South Korea, the Kospi rose 0.38%, while Samsung Electronics gained 2.53%, offsetting a 0.41% drop in SK Hynix. Australia’s S&P/ASX 200 dipped 0.17%, while Hong Kong’s Hang Seng index fell 0.13%, and China’s CSI300 slid 0.22%.
In the U.S., the S&P 500 ended flat Wednesday as Nvidia shares slipped 1% ahead of its earnings report. The Nasdaq Composite edged down 0.11%, while the Dow Jones Industrial Average gained 0.32%, buoying investor sentiment.
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