In Hong Kong, the benchmark Hang Seng Index gained 254 points, or 0.95 percent, to open at 27,019.
The China enterprises index was 44 points, or 0.5 percent, higher at 9,078 while the tech index was 24 points, or 0.5 percent, higher at 5,284.
On the mainland, the benchmark Shanghai Composite Index was up close to four points, or 0.09 percent, at 4,151.
The Shenzhen Component Index was up almost 20 points, or 0.14 percent, at 14,495 while the ChiNext Index, tracking China’s Nasdaq-style board of growth enterprises, was down 0.24 percent at 3,346.
Lingering worries about escalating geopolitical tensions between the United States and Iran, meanwhile, kept oil prices elevated, ahead of a third round of talks between the two countries later on Thursday.
Nvidia on Wednesday forecast first-quarter revenue above market estimates, betting on Big Tech’s unabated spending on its AI processors.
The result, which had been closely watched by investors, quelled some fears about the massive spending companies are pouring into all things AI.
That helped propel Japan’s Nikkei to a record high early in the session. By mid-morning, the index was up 408 points, or 0.7 percent, at 58,991.
South Korea’s Kospi was up 121 points, or 2 percent, at 6,205.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7 percent.
“Nvidia’s print was strong enough to keep the AI capex cycle alive. The immediate market reaction is relief, translating into a modest risk-on tone after the AI-driven volatility of recent weeks,” said Saxo’s chief investment strategist Charu Chanana.
Traders have blown hot and cold on the AI trade in recent weeks, worried about returns on investment and the technology’s potential to upend entire industries, yet hesitant to sit on the sidelines.
“The debate has been much less about stellar near-term results and more about the sustainability of AI capex spending given concerns around its quantum, monetisation and cashflow degradation,” said Richard Clode, portfolio manager at Janus Henderson Investors.
Shares of Nvidia initially jumped in extended trading after the results though later erased those gains, leaving Nasdaq futures down 0.25 percent and S&P 500 futures 0.14 percent lower. (Reuters & Xinhua)
Edited by Edmond Fong
