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Nvidia's weak outlook caused Asia-Pacific stocks to fall, with tech indices down over 1.8%.

TraderKnows
TraderKnows
08-29

On Thursday (29th), the Asia-Pacific stock markets continued to decline. The Hang Seng Tech Index fell by 1.83%, the Taiwan Weighted Index dropped by 1.49%, the South Korea KOSPI Index decreased by 0.82%, and the Nikkei 225 Index was down by 0.56%.

Overnight, U.S. stocks were dragged down across the board by tech stocks, with the Nasdaq falling over 1% and the Dow Jones retreating from record highs. Nvidia Corporation (NASDAQ: NVDA) saw its stock price drop more than 8% at one point after releasing its earnings report, while Supermicro (NASDAQ: SMCI), which delayed its earnings report, plunged 19%, coming under heavy short-selling pressure.

Wall Street analysts pointed out that the main reason for Nvidia's stock pressure could be its third-quarter earnings expectations. Nvidia expects third-quarter revenue growth to slow to double digits for the first time in six quarters, which is below Wall Street's previous expectations of triple-digit growth.

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Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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