Asian Markets Continue to Rise with Nvidia

Asian Markets Greet the Day with Joy

Manila, the capital of the Philippines, saw Asian stock markets turn upwards with Nvidia's stronger-than-expected quarterly earnings. Investors put aside concerns about the overvaluation of AI-driven stocks and found morale in this positive news.

U.S. futures and crude oil prices also showed signs of increase.

The Nikkei 225 index of Japan initially rose by %4.2 but gave back some gains, later climbing %2.6 to reach 49,801.81. Nvidia's $57 billion quarterly revenue boosted investor confidence alongside the rise in technology stocks.

South Korea's Kospi index rose %3 to reach 4,047.57, driven by gains in technology and energy stocks. Nvidia's earnings report and the potential postponement of the planned U.S. semiconductor tariffs encouraged investors.

Samsung Electronics gained %6.1, while SK Hynix rose %3.5.

China's markets recorded more modest gains. Hong Kong's Hang Seng Index increased by %0.1 to 25,867.87, while the Shanghai Composite Index rose %0.4 to 3,961.71. Taiwan's Taiex index jumped %3.2.

Australia's S&P/ASX 200 index also gained %1.2 to reach 8,546.10, driven by rising technology stocks.

Nvidia at the Center of the Market

The U.S. stock market had another volatile day on Wednesday and was set to face significant tests. The S&P 500 index rose %0.4, recovering losses during the day with a %1.1 increase. This ended the index's longest losing streak in three months. However, investors continued to worry that the {"Federal Reserve"} might implement fewer rate cuts than expected.

The Dow Jones Industrial Average rose by 47 points, or %0.1, while the NASDAQ Composite Index gained %0.6.

Constellation Energy gained %5.3 after the U.S. Department of Energy announced it would provide $1 billion in loans for the restart of the Three Mile Island nuclear plant. Lowe’s rose %4 as its profits during the summer exceeded analyst expectations.

Target, however, fell %2.8 due to having weaker-than-expected income reports, indicating that tough conditions might continue through the holiday shopping season.

Nonetheless, the market's focus remained on Nvidia. The most influential stock on Wall Street, Nvidia, rose by %2.8, closing the day up %5.1.

Nvidia reached the position of the largest stock on Wall Street, briefly exceeding the $5 trillion mark. This means it exerts more influence on the S&P 500 than other stocks.

Job Report Anticipation

Traders made their final moves before the U.S. government's September job report release. The slowdown in the labor market has led the Federal Reserve to lower interest rates twice this year. Low interest rates can support the economy and investment prices; however, some Federal Reserve officials indicate that another rate cut may not happen.

Meanwhile, on Wednesday, U.S. crude oil prices surged to $59.41 per barrel with a %16 increase. The international benchmark Brent oil also saw a %16 rise to $63.67.

The U.S. dollar rose to 157.32 against the Japanese yen, while the Euro declined to 1.1520, resulting in a volatile day in the markets.