TOKYO — Shares eased on Wednesday as investors turned cautious ahead of Nvidia’s earnings on Wall Street later in the day, while the dollar held gains on promising economic signs in the United States.
Market optimism over what appeared to be easing trade frictions between the US and Europe faded. Global bond markets settled down after a scary surge in long-term yields, though a lacklustre auction for Japan’s longest-dated bonds underscored lingering fiscal deficit concerns.
US consumer confidence surprised on the upside ahead of closely watched jobs figures on Thursday.
Artificial intelligence chipmaker Nvidia jumped more than 4 percent on Tuesday and will be the last of the “Magnificent 7” tech giants to report earnings after markets close in the US
“There is renewed confidence that Nvidia can beat the consensus estimates,” said Chris Weston, head of research at Pepperstone.
If Nvidia comes through with better-than-expected sales and profit margins “the rally is on”, he added.
The chipmaker is expected to report that first-quarter revenue surged 66.2 percent to $43.28 billion, according to data compiled by LSEG.
Ahead of the results, Nasdaq futures dipped 0.03 percent in Asia, while S&P 500 futures eased 0.06 percent. EUROSTOXX 50 futures fell 0.3 percent.
In signs of a thaw between the US and Europe, European Union officials have asked companies for details of their US investment plans, according to two sources familiar with the matter.
But MSCI’s broadest index of Asia-Pacific shares outside Japan reversed gains from early in the session to fall 0.15 percent, as uncertainty over Trump’s chaotic trade policies continues to linger.
Japan’s Nikkei advanced 0.22 percent, climbing a fourth straight session.
China’s CSI300 blue-chip index ticked up 0.08 percent, while Hong Kong’s Hang Seng Index fell 0.4 percent.
