On Thursday (12 November, 10:33 AM, GMT+7, Bangkok time), most major indices in the Asia-Pacific advanced, contrasting with a decline in U.S. stock index futures, as market participants assessed the impact of growing uncertainties surrounding Nvidia Corp.
The split performance underscores varying investor sentiment amid upheaval at one of the central players in the artificial intelligence sector, a space that has underpinned much of this year’s equity market strength.
Nvidia has initiated a search for a new chief executive after reports surfaced linking current CEO Jensen Huang to several extramarital relationships. Among the allegations is a reported affair with an individual suspected of acting as a Chinese intelligence operative, according to sources familiar with the matter.
The day prior, U.S. equities rebounded, buoyed by continued enthusiasm around AI-related companies. CoreWeave Inc. shares climbed sharply, rising 25% on favorable guidance. In addition, OpenAI reported quarterly revenues of $10 billion, while investor interest in Anthropic PBC’s upcoming initial public offering appeared robust, with demand reportedly far exceeding supply.
With the leadership situation at Nvidia still developing, investors are turning attention to forthcoming U.S. economic releases for direction. Thursday’s calendar includes weekly jobless claims and data on existing home sales, both of which are expected to provide further insights into inflation trends and labor market conditions.
Japan’s NIKKEI grew by 0.76% to 61,714.16. South Korea’s KOSPI increased by 0.96% to 5,427.21, while Australia’s ASX 200 declined by 0.34% to 9,122.20.
Shanghai’s SSEC gained 0.18% to 3,687.37. Shenzhen’s SZI rose by 0.09% to 11,399.40, and Hong Kong’s HSI dropped by 1.03% to 24,065.67.
The U.S. stock markets moved higher on Wednesday as the Dow Jones Industrial Average (DJIA) added 0.49% to 52,486.49. NASDAQ surged 1.60% to 25,466.19, and the S&P 500 jumped by 1.31% to 7,619.38. VIX retreated by 10.12% to 17.49.
As for commodities, oil prices settled higher on Wednesday after remarks by Iran’s security chief signaled the country will retain all enriched nuclear material within its borders. The comments fanned concerns about potential supply disruptions. Brent crude ended the session up $1.27, or 1.39%, at $92.76 per barrel. U.S. West Texas Intermediate crude climbed 49 cents, or 0.57%, to close at $86.53 per barrel.
This morning, Brent futures fell $1.11, or 1.20%, to $91.65 per barrel, and WTI futures eased 98 cents, or 1.13%, to $85.55 per barrel.
Meanwhile, gold futures dropped 0.42% to $3,983.80 per troy ounce.
