Asian stocks climbed sharply on Thursday after Nvidia reported powerful quarterly earnings that once again strengthened confidence in the global AI boom. The upbeat numbers eased concerns about inflated tech valuations and offered investors a reason to look past uncertainty surrounding the next US Federal Reserve rate move.
Nvidia’s latest report landed after market hours in the US and immediately pushed its shares up by more than five percent in post-market trading. CEO Jensen Huang also struck an optimistic tone, saying the company does not see signs of an AI bubble forming. His comments helped calm worries that the rapid rise of AI-linked stocks had gone too far too fast.
The positive momentum flowed straight into futures trading, with both the S&P 500 and Nasdaq turning higher. By the time Asian markets opened, the sentiment had already shifted. Tech stocks across the region were quick to react, driving a broad rally in major indexes.
South Korea’s Samsung and SK hynix, Japan’s SoftBank, and Taiwan Semiconductor Manufacturing Company (TSMC) all saw strong gains. Japan’s Nikkei briefly jumped more than four percent in early trade, fuelled by heavy buying in chip-related names.
Other markets across the Asia-Pacific region also moved higher. Hong Kong, Shanghai, Singapore, Sydney, Wellington, and Jakarta all opened in positive territory. According to Reuters, the MSCI Asia-Pacific ex-Japan index rose 0.6 percent as investors welcomed what analysts described as another “master class in AI dominance” from Nvidia.
SoftBank stood out with intraday gains of up to eight percent, reflecting renewed confidence in its tech-focused portfolio. TSMC also advanced more than four percent, adding to a series of strong sessions driven by global chip demand.
This wave of optimism helped offset pressure coming from the latest Federal Reserve meeting minutes. Records from the Fed’s October meeting suggested that central bank officials are hesitant to approve a third straight interest rate cut in December. The tone was more cautious than markets had hoped, hinting that policymakers want more information on inflation and economic stability before making another move.
As expectations shifted, traders scaled back the probability of a December rate cut to around 33 percent. The delay in key US employment data — with both the September jobs report and October release pushed to December 16 — added to the uncertainty. The revised outlook strengthened the US dollar, which rose to 157.47 yen.
Energy markets also saw some movement. Crude prices inched higher after a nearly two percent drop the previous day. Brent crude gained 0.33 percent to trade at $63.72 a barrel, while West Texas Intermediate rose 0.40 percent to $59.68. The climb came as markets weighed new US diplomatic proposals aimed at ending the war in Ukraine and approached a November 21 deadline for companies to end dealings with Russian energy firms Rosneft and Lukoil under US sanctions.
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Despite recent volatility, analysts say crude continues to show a stronger outlook while holding above the $55 level. According to IG’s Tony Sycamore, the market still maintains a bullish bias as long as prices remain comfortably above that support zone.
Overall, Thursday’s trading session showed how powerful the influence of the global AI and semiconductor industry has become. Nvidia’s performance continues to steer sentiment not only in the US but across Asia as well. For now, the combination of solid earnings, improved tech confidence, and firm demand across chip supply chains has given markets a strong lift, even as investors keep a close eye on the Fed’s next move and broader geopolitical risks.
