Asia-Pacific markets decline as investors react to Nvidia results

On Thursday, Asia-Pacific markets experienced a decline, primarily influenced by the performance of tech stocks following Nvidia's second-quarter earnings report. Nvidia's revenue for the quarter reached $30 billion, marking a 15% increase from the previous quarter and a staggering 122% rise year-over-year. Despite beating Wall Street expectations and announcing a $50 billion share buyback, Nvidia's shares fell 8% in after-hours trading, which negatively impacted investor sentiment across the region. In South Korea, major chip manufacturers faced significant losses, with SK Hynix dropping 5.35% and Samsung Electronics declining over 3%. This led to a 1.02% decrease in the Kospi index, which closed at 2,662.28. The Kosdaq index also suffered, marking its seventh consecutive day of losses with a 0.85% drop. Taiwan's market mirrored this trend, with the Taiwan Weighted Index falling 0.75% to 22,201.85. Key players like Taiwan Semiconductor Manufacturing Company and Hon Hai Precision Industry saw their shares decline by 2.18% and 2.4%, respectively. Japan's Nikkei 225 experienced a slight decrease, while the broader Topix index managed a marginal gain. In contrast, Australia's S&P/ASX 200 fell by 0.33%, and Hong Kong's Hang Seng index showed resilience by gaining 0.47% in its final hour. Meanwhile, mainland China's CSI 300 index continued its downward trajectory, losing 0.27% and reaching its lowest point in nearly seven months, extending its losing streak to four days.