Nvidia Earnings Spark Asian Stocks Rally

Asian stocks rose for a third consecutive day on Thursday, driven by Nvidia's impressive earnings report. The AI chipmaker reported quarterly revenue more than doubling and forecasted third-quarter revenue above Wall Street estimates.

The news lifted technology hardware makers and boosted investor confidence despite data showing the Federal Reserve's preferred US inflation measure remaining elevated.

Nvidia's shares jumped 4.7% in after-hours trading, lifting S&P 500 e-mini futures by 0.4%. The company's strong performance was hailed as 'a really bullish story' by Chris Weston, head of research at Pepperstone Group.

South Korea's KOSPI rose 1.5%, while Taiwanese shares increased 0.9%. However, the Nikkei 225 fell 0.4%.