Nvidia Earnings Spark Third Straight Day of Asian Stock Gains

Nvidia's strong earnings report has lifted tech stocks in Asia, pushing them up for the third consecutive day. The AI chipmaker reported that its quarterly revenue more than doubled and forecasted third-quarter revenue above Wall Street estimates.

The S&P 500 e-mini futures jumped by 0.4% following Nvidia's announcement, which also boosted shares of other tech hardware manufacturers. Chris Weston, head of research at Pepperstone Group in Melbourne, said that the company is 'in absolutely rude health' and will likely see benefits across its supply chain.

The Nikkei 225 slid by 0.4%, while Taiwanese shares rose 0.9%. South Korea's KOSPI also gained 1.5% after the Bank of Korea raised interest rates by 25 basis points to 3%, in line with market expectations.