Asian Markets Closed Mixed Driven by Investor Trading Caution
Go Wire
November 20, 2024
GoGPT Summarizes Articles
On November 20, Markets in Asia were mixed as investors traded cautiously and waited patiently for Nvidia's third-quarter earnings results to be released after today's US market's close.
Investors wondered if Nvidia (NASDAQ: NVDA), the world’s most valuable company, could continue its remarkable growth pushed by AI hardware expenses. They expected the company to beat earnings estimates for the fifth consecutive quarter and would take a long position in Nvidia following its earnings announcement. Nvidia's earnings performance would determine the sentiment of the technology sector and major stock markets in Asia.
Back to the close performance of each Asian market, Japan's Nikkei 225 closed down 0.16% despite Seven & i (TYO: 3382) surging 6.52% on the report of the founding family planning to take the company private.
Conversely, China's Shanghai Composite Index closed up 0.66% and Hang Seng index closed up 0.21% because Chinese banks sustained their benchmark lending rates, which met market expectations.
Elsewhere in the Asia-Pacific region, South Korea's Kospi rose 0.42%, while Australia's S&P/ASX 200 fell.
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