Nvidia earnings beat lifts Asian stocks

Nvidia reported quarterly revenue that more than doubled and forecast third-quarter revenue above Wall Street estimates, sending its shares up 4.7% in after-hours trading and lifting S&P 500 e-mini futures by 0.4%. The earnings beat boosted technology hardware manufacturers and contributed to a third consecutive day of gains in Asian markets, with MSCI's broadest index of Asia-Pacific shares excluding Japan rising 0.7%. South Korea's KOSPI rose 1.5% after the South Korea — Bank of Korea raised its benchmark interest rate by 25 basis points to 3%, while Taiwanese shares gained 0.9% and Japan's Nikkei 225 slipped 0.4%. The positive sentiment was tempered by firm US inflation data, with the July core PCE index rising 0.2%, and markets awaited Fed Chair Kevin Warsh's speech in Jackson Hole for rate clues. Meanwhile, Brent crude fell 0.7% to $87.20 as Qatar's prime minister prepared to visit Tehran to relaunch US-Iran peace talks, and gold, bitcoin, and ether rose on dollar debasement trades after the US Treasury intervened in bond markets.