Asian chip stocks rise after Nvidia forecast, markets mixed

Asian chip stocks rose Thursday after Nvidia reported that revenue more than doubled year on year and forecast another strong July-September period, but broader markets were mixed as US inflation data stayed high.

Nvidia shares gained around 5% in after-hours trade after the results. South Korea's SK hynix and Samsung rose between 2% and 3%, Japan's Kioxia gained more than 4% and Taiwan's TSMC also advanced.

Wider Asian indexes were uneven. Seoul, Taipei and Shanghai rose, while Tokyo, Hong Kong, Sydney, Singapore, Wellington and Manila fell. Around 0200 GMT, Tokyo's Nikkei 225 was down 0.1%, Hong Kong's Hang Seng was down 0.3% and Shanghai's Composite was up 0.1%.

The Federal Reserve's preferred inflation gauge remained at 3.7% in July, above the central bank's 2% target. Another report put US second-quarter GDP growth at 1.5%, in line with estimates.

Investors were awaiting Kevin Warsh's speech at the Jackson Hole symposium for signals on interest rates. Oil continued to fall as Iran and Oman edged toward a possible temporary shipping corridor in the Strait of Hormuz, with WTI down 0.6% at $81.78 and Brent down 0.5% at $87.43 around 0200 GMT.