Nvidia Revenue Surge Boosts Asian Markets Amid Meta Settlement

Asian stock markets delivered mixed results on Thursday, following modest losses on Wall Street and a drop in oil prices. The Kospi in South Korea rose 1.5% and Taiwan's Taiex added 0.5%, gains driven largely by a global surge in artificial intelligence. In contrast, Japan's Nikkei 225 and Hong Kong's Hang Seng both declined.

Nvidia reported that its May-July quarter revenue more than doubled, exceeding expectations and boosting U.S. futures. This momentum supported market heavyweights like Samsung Electronics, which saw shares rise 2%, and SoftBank Group, which gained 0.1%. In the U.S., Meta Platforms rose 1.1% after agreeing to pay up to $18 billion and implement child-safety measures to settle lawsuits regarding teen social media addiction.

Economic indicators provided a complicated backdrop for investors. U.S. economic data showed a 1.5% growth pace for the April-June period, but inflation remained at 3.7%. This figure exceeded economist expectations and the 2% goal set by the Federal Reserve System. Meanwhile, industrial profit growth in China slowed to 11.2% in July.