Nvidia Boosts Tech Stocks as Asia-Pacific Markets Rise

Asian stocks were poised to open higher after Nvidia's strong earnings outlook boosted technology shares and renewed investor confidence across the Asia-Pacific region.

The gains came as fresh US inflation data showed continued price pressures ahead of the Federal Reserve's September policy meeting. MSCI's other broadest index of shares in Asia-Pacific, excluding Japan, climbed 0.7% to extend three sessions of gains in the region.

Nvidia's quarterly results revealed revenue more than doubled, and a forecast for the revenue in the third quarter that beat Wall Street expectations.

South Korea's KOSPI rose 1.5%, but cut some of its previous gains as the Bank of Korea (BOK) increased its benchmark interest rate by 25 basis points to 3%.