Asian Stocks Jump on Nvidia Earnings Boost; Dollar Firms Ahead of U.S. Jobs Data

Asian markets rallied on Thursday as Nvidia’s blockbuster earnings lifted tech shares across the region, while the dollar strengthened ahead of delayed U.S. jobs data.

Nvidia’s upbeat revenue forecast and strong AI-chip demand sparked a relief rally, sending Japan’s Nikkei up 4.2%, South Korea’s KOSPI up 3.3%, and Taiwan’s TAIEX up 3.4%. Major tech names surged, including TSMC (+4.3%), Samsung (+5.1%), SK Hynix (+4.5%), and Tokyo Electron (+5.4%).

MSCI’s Asia-Pacific ex-Japan index gained 1.2%, while U.S. S&P 500 futures rose 1.3%.

China lagged, with Hong Kong’s Hang Seng slightly lower and mainland stocks flat after the PBOC kept lending rates unchanged for a sixth month amid concerns over weak economic momentum.

The dollar index climbed 0.2%, and the U.S. 10-year yield edged up to 4.14%, as traders awaited the delayed September jobs report for policy clues. Fed minutes showed policymakers cut rates in October but warned of inflation risks. Markets now price just a 33% chance of a December rate cut.

The yen remained under pressure, sliding to 157.48 per dollar, while euro/dollar dipped to $1.1517.

Oil gained, with Brent up 0.5% to $63.80, and crypto rebounded about 2%. Gold was volatile, last down 0.6% at $4,055.