CANBERA (dpa-AFX) - Asian stocks advanced on Thursday as Nvidia's earnings results quelled fears over massive AI spending and AI-driven disruption.
The AI bellwether posted record Q4 results with total revenue of $68 billion, led by a record data-center quarter of $62 billion, driven by the Blackwell and Blackwell Ultra ramp.
The dollar edged lower in Asian trade, while gold advanced on safe-haven demand and oil prices hovered near seven-month highs as investors waited for any news on the third round of nuclear talks between the United States and Iran.
China's Shanghai Composite index finished marginally lower at 4,146.63 due to persistent uncertainty over U.S. trade policy. Traders also looked ahead to the release of February PMI data, due next week for direction.
Hong Kong's Hang Seng index fell 1.44 percent to 26,381.02. Trip.com shares tumbled 3.2 percent after the travel operator reported a sharp fall in its Q4 operating margins.
Japanese markets gave up some early gains as the yen rebounded on BoJ rate hike bets following remarks by board member Hajime Takata.
The Nikkei average hit a new record high at 59,332.43 before paring gains to close up 0.29 percent at 58,753.39. The broader Topix index settled 0.97 percent higher at 3,880.34.
Tech stocks ended mixed despite Nvidia delivering bumper earnings for the January quarter and issuing an upbeat outlook for the current quarter. SoftBank shares surged 4 percent while Advantest dropped 1.7 percent and Tokyo Electron lost 2 percent.
Seoul stocks hit another record as chip stocks rallied on Nvidia guidance, and the Bank of Korea lifted its growth forecast after holding rates steady, as widely expected.
The Kospi average soared 3.67 percent to 6,307.27. Chip and auto stocks led the surge, with Samsung Electronics, SK Hynix, Hyundai Motor and Kia Corp climbing 5-8 percent.
Australian markets eked out modest gains to reach a new record, with mining, healthcare and technology stocks pacing the gainers.
The benchmark S&P/ASX 200 rose 0.51 percent to 9,175.30 while the broader All Ordinaries index ended up 0.53 percent at 9,408.70.
Heavyweight BHP jumped 2.2 percent and Rio Tinto surged 3.7 percent on firmer copper prices.
Across the Tasman, New Zealand's benchmark S&P/NZX-50 index rallied 1.07 percent to 13,670.71, finishing at a five-week high.
U.S. stocks ended higher overnight, building on the gains from the previous session after Anthropic launched new AI tools, positioning its products as additive, rather than threatening, to existing software providers.
The tech-heavy Nasdaq Composite jumped 1.3 percent, the S&P 500 climbed 0.8 percent and the Dow rose 0.6 percent.
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