[MARKET ANALYSIS] Asia-Pac stocks are somewhat mixed amid a fallout from NVIDIA CEO's extramarital affairs
Newsquawk Staff ·
APAC Stocks: Mixed/Mostly Positive
- Asia-Pac stocks are somewhat mixed, albeit with a mostly positive bias, while gains are capped and early choppy trade was observed as the momentum from the continued tech rebound on Wall St was clouded by the fallout from a report regarding NVIDIA CEO Huang's extramarital affair with a Co. executive. This has spurred doubts regarding his future in the Co., with the board said to be preparing to oust him.
ASX 200: -0.3%
- Lags with the index dragged lower by underperformance in the mining, materials and resources sectors.
Nikkei 225: +0.8 %
- Trades higher with the index shrugging off the firmer-than-expected PPI data, while there were comments from Takaichi-appointed BoJ board member Asada, who stated that they need to watch downside economic risks and need to be cautious about the pace of rate hikes.
KOSPI +1.0%
- Swung between gains and losses before ultimately outperforming its major regional peers.
Hang Seng & Shanghai Comp: Hang Seng -1.1% / Shanghai Comp +0.3%
- Chinese markets are mixed, with weakness seen in tech and ecommerce stocks, as the likes of Alibaba and JD.com underperform after the tepid Singles' Day sales growth underscored weak consumer spending.
US Equity Futures: Mixed
- Mixed price action with E-mini Nasdaq 100 futures pressured amid the NVIDIA-related fallout.
European Equity Futures +0.3%
- Indicate a positive cash market open with Euro Stoxx 50 futures up 0.3% after the cash market closed with gains of 1.0% on Wednesday.
- [MARKET ANALYSIS] Dollar holds on to recent spoils after extending on advances yesterday amid a lack of fresh catalysts on Veterans Day
- [MARKET ANALYSIS] T-note futures mildly rebound from the prior day's trough amid lower oil prices and with risk sentiment clouded by the NVIDIA fallout
- Top Democrats target Trump administration's Nvidia (NVDA)-China records, with Senators Warren and Coons asking for documents to be preserved, which is often the initial step before formal congressional investigations, according to WSJ
- BoJ Board Member Asada says must be mindful of expected impact of past rate hikes on the economy and that financial conditions remain accommodative, while he added that they need to watch downside economy risks from rate hikes
- [MARKET UPDATE] Asia-Pac stocks begin mixed following the continued tech rebound during Wall St trade and the after-hours fallout from a report regarding NVIDIA CEO's affair with a Co. executive, with the board said to be preparing to oust him
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