The seismic shockwaves from Nvidia's unprecedented ascent on Wall Street reverberated across Asian trading floors on Thursday, painting a complex picture of regional market sentiment. The tech behemoth's staggering performance, which momentarily catapulted it past Microsoft to claim the title of world's most valuable company, has become the defining narrative in global finance.
Market responses across Asia were decidedly mixed. Japan's Nikkei 225 index showcased resilience, climbing 0.2% to 38,570.76. Australia's S&P/ASX 200 also edged into positive territory, gaining 0.3% to reach 7,765.00. South Korea's Kospi, however, told a different story, dipping 0.2% to 2,772.85.
The most dramatic reaction unfolded in Hong Kong, where the Hang Seng index experienced a sharp decline of 1.3% to 18,335.32. This contrasted with the Shanghai Composite index's more modest retreat of 0.4% to 3,005.44.
Nvidia's extraordinary journey saw its stock price surge by 3.5% on Tuesday, propelling its market capitalisation to an astonishing $3.34 trillion. This brief but historic overtaking of Microsoft underscores the insatiable investor appetite for companies leading the artificial intelligence revolution.
Elsewhere in the region, Taiwan's Taiex slipped 0.5%, while India's Sensex managed a 0.2% gain. The Philippine benchmark index emerged as a notable outperformer, jumping 1.1% following a public holiday.
This market activity unfolds against a backdrop of cautious optimism, with investors closely monitoring the broader implications of the AI-driven tech rally for global economic stability and future growth trajectories.
