By Stella Qiu SYDNEY (Reuters) - Asian shares held tight ranges on Wednesday as investors awaited results from tech darling Nvidia to see if the ...
Missing dog scam red flags | SaltWireSYDNEY - Asian shares held tight ranges on Wednesday as investors awaited results from tech darling Nvidia to see if the sector's lofty valuations can withstand a jump in bond yields, while still gloomy factory readings from Japan left sentiment fragile.MSCI's broadest index of Asia-Pacific shares outside Japan were up 0.1%, hovering not far away from its nine-month trough hit just two sessions ago. Japan's Nikkei rose a meagre 0.2%.
Metal prices kept climbing for a second day, with iron ore prices gaining as much as 3.2% and coking coal futures up by a similar amount. Analysts expect Nvidia to forecast 110% growth in third-quarter revenue to $12.50 billion. Stuart Humphrey, an analyst at JPMorgan, said some are forecasting $14-15 billion.
Financial shares underperformed, with the S&P 500 banks sliding 2.4%, after S&P joined Moody's to downgrade multiple regional U.S. lenders. Comments from Richmond Fed President Thomas Barkin raised expectations that Chair Jerome Powell would drive home a hawkish message, after strong U.S. economic data makes the"reacceleration scenario" possible.
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