Asian equities rose Friday following gains on Wall Street as investors shook off initial concerns over Nvidia Corp.'s revenue outlook. Bitcoin edged closer to $100,000 while the dollar gained.
Shares in Australia and Japan advanced. An index of US-listed Chinese stocks fell 1% Thursday, running against the grain of trading in New York but partly reflecting selling in Hong Kong stocks in their most recent session.
The S&P 500 and Nasdaq 100 both rose Thursday. Nvidia ended higher and even touched a fresh intraday record in a sign investors re-calibrated initial concerns over its revenue outlook. The company assured investors that its new product lineup will continue to fuel an artificial intelligence-driven growth run.
"The guidance seems to show lower growth, but this may be Nvidia being conservative," said Alvin Nguyen, an analyst at Forrester Research Inc. "Short term, there is no worry about AI demand. Nvidia is doing everything they should be doing."
Bitcoin set a fresh high, climbing past $98,000 on bets President-elect Donald Trump's support for crypto and a looser regulatory environment will usher in a boom for the industry. A Fox Business News report suggested Chris Giancarlo, a former chairman of the Commodity Futures Trading Commission, was being weighed as the first "crypto czar" under the incoming administration.
Source: Bloomberg
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