A worker produces chips at a semiconductor manufacturing enterprise in Binzhou, China, on June 4, 2024.
Nurphoto | Nurphoto | Getty Images
Asia-Pacific markets fell on Thursday, tracking losses on Wall Street as investors assess results from tech giant Nvidia.
Nvidia reported second-quarter earnings that beat Wall Street expectations and provided stronger-than-expected guidance for the current quarter. The company also authorized an additional share buyback of $50 billion.
Revenue for the second quarter came in at $30 billion, up 15% from the previous quarter and 122% higher from a year ago. However, the firm’s shares fell 8% in extended trading.
Investors in Asia will watch for any spillover to tech stocks in the region, which is home to companies along Nvidia’s value chain like Taiwan Semiconductor Manufacturing Company and SK Hynix.
South Korean chip heavyweight SK Hynix plunged 6% on its open, while Samsung Electronics fell more than 3%, dragging the Kospi down 1.3%. The small-cap Kosdaq was down 0.55%.
Japan’s Nikkei 225 dropped 0.56%, while the broad based Topix was down 0.14%.
Australia’s S&P/ASX 200 was down 0.47%.
Hong Kong Hang Seng index futures were at 17,648, lower than the HSI’s last close of 17,692.45.
Overnight in the U.S., all three major indexes fell in the regular trading session and before Nvidia’s results, with the Nasdaq Composite down 1.12%, while the S&P 500 slipped 0.6%.
The Dow Jones Industrial Average lost 159.08 points, or 0.39%.
—CNBC’s Lisa Kailai Han, Hakyung Kim and Kif Leswing contributed to this report.