Nvidia Earnings Fail to Impress, Dragging Down Asian Tech Stocks

Asian stocks declined as Nvidia`s sales forecast, while strong, fell short of the highest analyst predictions, disappointing investors and impacting tech stocks, particularly chipmakers. This impacted the AI sector, where Nvidia plays a key role. Chinese markets also fell due to disappointing earnings reports that highlighted weak consumer demand. While Nvidia`s revenue doubled and the company announced a significant stock buyback, the missed forecast overshadowed these positive developments. Meanwhile, the New Zealand dollar gained strength following a surge in business confidence, and the US dollar dipped slightly after recent gains.