US tech firm Nvidia takes wind out of Asian markets’ sails
Bourses in the region turned mixed, as a plunge in the chipmaker countered optimism over a possible thaw in the US-China trade war
Sydney — Asian share markets turned mixed on Friday, as hope for a thaw in the China-US trade standoff was tempered by disappointing results from US chipmaker Nvidia, which slugged the tech sector. The pound also lay battered and bruised after a bout of political turmoil fanned fear that Britain could crash out of the European Union without a divorce deal. Asian shares started firm after reports that the US might pause on further tariffs on goods from China gave Wall Street a fillip, but a nearly 17% plunge in Nvidia’s stock tempered the mood. The chip designer forecast disappointing sales for the holiday quarter, pinning the blame on unsold chips piling up with distributors and retailers after the evaporation of the cryptocurrency mining boom. Also falling after-hours were shares of Advanced Micro Devices and Intel. Losses in semiconductor shares dragged Japan’s Nikkei down 0.1%, while Nasdaq futures fell 0.5%. “It started with Apple, then Nvidia…. Since performances of these compa...
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