Asian Shares Mixed Before Nvidia Earnings

(RTTNews) - Asian stocks ended mixed on Wednesday as investors eagerly awaited earnings from market darling Nvidia, which could affect shares of artificial intelligence and other prominent technology stocks.

Investors also awaited the release of the Federal Reserve's preferred inflation gauge later this week for signals on U.S. interest-rate reductions.

The dollar tried to regain some ground, after having hit its lowest in more than a year against a basket of peers.

Gold dipped on dollar strength while oil held steady after a dramatic drop in the previous session that halted a three-day winning run.

China's Shanghai Composite index dipped 0.40 percent to 2,837.43, with sentiment dented by weak corporate earnings and concerns over a renewed trade war between China and the west. Hong Kong's Hang Seng index fell 1.02 percent to 17,692.45.

Japanese markets eked out modest gains as the yen dropped further following cautious remarks from BoJ policymaker Himino.

Bank of Japan (BoJ) Deputy Governor Ryozo Himino was quoted as saying that the central bank's monetary policy has to consider numerous factors and that the imminent task is to closely monitor financial market developments with high sense of urgency.

The Nikkei average edged up 0.22 percent to 38,371.76 while the broader Topix index settled 0.42 percent higher at 2,692.12.

Seoul stocks ended little changed after a choppy session. The Kospi average finished marginally higher at 2,689.83 after North Korea said it test-fired a 240mm multiple rocket launcher with a new "guiding system."

Automakers posted strong gains, with Hyundai Motor surging 4.7 percent and its affiliate Kia Corp climbing 2.8 percent. Australian markets ended on a flat note after data showed inflation slowed to a four-month low in July but not fast enough to warrant early interest-rate cuts.

Tabcorp Holdings plunged 15 percent after the company announced a significant non-cash impairment charge of $1.37 billion for its wagering business.

Woolworths jumped 3.3 percent after the grocer declared a special dividend and noted that improving customer scores, item growth, and lower inflation provide reason for optimism.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index rose 0.16 percent to 12,470.60.

U.S. stocks ended little changed overnight as investors weighed geopolitical risks and awaited cues from Nvidia's earnings and a key inflation reading.

The Dow finished marginally higher to reach a new record closing high after a measure of U.S. consumer confidence rose to a six-month high in August.

The tech-heavy Nasdaq Composite and the S&P 500 both edged up by 0.2 percent.