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Shares across most Asian markets advanced Friday, buoyed by strong performances from technology giants including Nvidia on U.S. exchanges. While South Korea’s Kospi declined 1% to 6,841.50, regional exchanges largely posted modest increases, with U.S. futures remaining essentially flat and crude oil declining modestly.
Tokyo’s Nikkei 225 index rose 0.8% to 66,682.88, while Hong Kong’s Hang Seng increased 0.3% to 25,648.40. The Shanghai Composite remained nearly flat at 3,956.28, Australia’s S&P/ASX 200 gained 0.3% to 9,063.50, and Taiwan’s Taiex surged 1% during the session.
Nvidia emerged as the primary market driver, rallying 8.7% after reporting quarterly earnings and revenue that surpassed analyst expectations. The semiconductor manufacturer also issued forward guidance exceeding estimates, signaling sustained demand for chips powering artificial intelligence applications. CEO Jensen Huang stated that “AI has reached its inflection point” and that “its tokens are productive and profitable.”
Salesforce soared 22.6% for its best day in six years, delivering one of its strongest quarters on record with assistance from artificial intelligence tools. The company raised its full-year revenue forecast and expanded its partnership with Anthropic’s Claude chatbot, addressing earlier investor concerns about AI-powered competition eroding its customer base.
The S&P 500 rose 0.7% Thursday while approaching its recent all-time high, the Dow Jones Industrial Average added 0.2%, and the Nasdaq composite climbed 1.6%. However, broader market trends proved uneven, with the majority of S&P 500 constituents declining.
Retail stocks faced headwinds as Best Buy fell 4.4% despite exceeding profit and revenue expectations, reflecting ongoing consumer concerns about inflation and economic weakness. Dollar General rose 2.5% after reporting stronger-than-expected quarterly profits, while Dollar Tree dropped 3.9% despite beating profit projections, as its revenue guidance midpoint disappointed analysts.
An upcoming speech Friday by Federal Reserve Chairman Kevin Warsh represents the next significant market event, though he has resisted providing detailed policy guidance regarding inflation control. Oil prices, influenced by uncertainty surrounding potential conflicts with Iran and shipping restrictions in the Strait of Hormuz, moved lower Friday, with Brent crude slipping 0.3% to $88.24 per barrel and U.S. benchmark crude falling 0.4% to $83.17.
Treasury yields rose following a jobless claims report indicating the U.S. labor market remains resilient. The dollar strengthened to 159.45 Japanese yen from 159.39, while the euro held virtually steady at $1.1651.
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