MANILA, Philippines — Asian shares were mixed Thursday after modest gains on Wall Street lifted the S&P 500 to another all-time high ahead of computer chip maker Nvidia’s highly anticipated earnings report.
U.S. futures rose, while oil prices declined.
In China, shares in computer chip maker Cambricon Technologies soared 15.7% to 1,587.91 yuan ($222), becoming the priciest stock on Shanghai’s exchange as it surpassed Kweichou Moutai’s stock, which slipped to 1,446 yuan ($202) a share. Cambricon’s shares have jumped after it reported its revenue and profit expanded many fold in the first half of the year, helped by the Chinese government’s support for domestic semiconductor makers.
The Shanghai Composite index surged 1.1% to 3,843.60. It has been trading near decade-high levels on heavy buying by institutional investors.
Hong Kong’s Hang Seng dropped 0.7% to 25,029.64, led by losses for technology companies like food delivery company Meituan. Its shares dropped 11.5%, while e-commerce giant JD.com declined 4%. Such companies have seen demand sag as Chinese consumers cut back on spending.
Japan’s Nikkei 225 added 0.7% to 42,828.79. It has been trading near record levels, despite friction with Washington over a preliminary trade agreement that has yet to be finalized. Top trade envoy Ryohei Akazawa abruptly postponed a trip to the U.S. capital planned for Thursday in the latest sign of trouble over the deal setting tariffs on Japanese exports at 15%, a policy that has yet to come into effect.
South Korea’s Kospi climbed 0.3% to 3,196.32 after the Bank of Korea kept its policy rate unchanged at 2.5% for the second review in a row.
Australia’s S&P/ASX 200 edged 0.2% higher to 8,980.00. India’s BSE Sensex fell 0.6%, reopening following a public holiday after higher U.S. tariffs on the country’s exports took effect on Wednesday.
Taiwan’s TAIEX shed 1.2%.
Stock indexes in Jakarta and Kuala Lumpur were both higher, while that in Manila fell nearly 1%.
On Wednesday, the S&P 500 rose 0.2%, nudging past the record high it set two weeks ago to close at 6,481.40.
The Dow Jones Industrial Average rose 0.3% to 45,565.23, and the Nasdaq composite closed 0.2% higher at 21,590.14.
Technology companies led the way higher, outweighing declines in communication services and other sectors.
After the market closed, Nvidia’s quarterly report showed its earnings and revenue topped Wall Street analysts’ forecasts, though the company noted that sales of its artificial intelligence…
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