NVIDIA Fails To Lift Asian Markets

2024-11-14 1160
(fxcue news) - Disappointing guidance from tech giant Nvidia offered little cheer for Asian markets rattled by uncertainty over Bank of Japan's monetary policy plans, and less-than-expected stimulus measures from China. Comments from Bank of Japan Governor that monetary policy stance would be dictated meeting by meeting based on data also unnerved markets. China's Shanghai Composite Index edged up 0.07 percent to finish trading at 3,370.40. The day's trading ranged between 3,378.52 and 3,348.86. The Shenzhen Component Index edged down 0.07 percent to close at 10,819.88. The Japanese benchmark Nikkei 225 slipped 326 points or 0.85 percent to close at 38,026.17. The day's trading range was between 38,374.69 and 37,945.21. Anxiety ahead of the CPI update weighed on sentiment. Tokyo Gas extended gains with a surge of close to 5 percent. Software business M3 followed with gains of 4.4 percent. Taiheiyo Cement Corp, Yamato Holdings and Ube Industries, all gained more than 3 percent. IHI Corp lost close to 4 percent. Sumitomo Realty and Development Co, East Japan Railway Co, Aeon and Mitsubishi Heavy Industries, all declined more than 3 percent. The Hang Seng Index of the Hong Kong Stock Exchange dropped 104 points or 0.53 percent from the previous close to finish trading at 19,601.11. The day's trading range was between a high of 19,764.62 and a low of 19,552.50. Korean Stock Exchange's Kospi Index edged down 0.07 percent to close trading at 2,480.63. The day's trading range was between 2,474.62 and 2,496.97. Australia's S&P/ASX200 closed trading at 8,323.00, edging down 3 points or 0.04 percent. The day's trading range was between 8,305.40 and 8,362.80. Sigma Healthcare topped gains with a surge of 4.3 percent. Amcor, Gold Road Resources, Pinnacle Investment Management Group and Champion Iron, all added more than 3 percent. Neuren Pharmaceuticals extended losses with a decline of 9.2 percent. Pexa Group, Web Travel Group, IDP Education and Johns Lyng Group, all slipped more than 4 percent. The NZX 50 of the New Zealand Stock Exchange gained 28 points or 0.22 percent to close trading at 12,765.24, versus the previous close of 12,737.06. Trading ranged between 12,699.17 and 12,810.66. Healthcare business Pacific Edge topped with gains of 7.6 percent. Serko rallied 4 percent followed by Ryman Healthcare that gained 3.1 percent. ANZ Group Holdings and Tourism Holdings, both added more than 2 percent in the day's trading. EROAD topped losses with a decline of 3.2 percent. Fletcher Building slipped 2.3 percent. Vital Healthcare Property Trust and Port of Tauranga, both declined close to a percent. Fonterra Shareholders Fund suffered a loss of a little less than a percent. Wall Street had closed on a mixed note on Wednesday amidst anticipation ahead of NVIDIA's earnings report as well as geopolitical concerns. The Nasdaq Composite shed 0.11 percent to close trading at 18,966.14 whereas the Dow Jones Industrial Average rallied 0.32 percent to finish trading at 43,408.47.
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