Asia-Pacific markets rose on Tuesday, with shares in auto and technology firms rising after Nvidia posted a strong revenue forecast for its key chips and partnerships with automakers from the region.
Memory chip makers SK Hynix, which supplies Nvidia with memory chips, and Samsung Electronics, a decades-old Nvidia partner, rose more than 3% and 4% respectively. It comes after Nvidia CEO Jensen Huang said at Nvidia’s annual developer conference on Monday that he expects orders between Blackwell and Vera Rubin chips to reach $1 trillion by 2027.
Taiwan’s TSMC, the world’s largest maker of chips and Nvidia’s advanced AI GPUs, rose 1%.
Shares of automakers Hyundai Motor, Nissan Motor and Isuzu, as well as China’s BYD and Geely, rose after Nvidia said it was partnering with the firms for its autonomous vehicle development business.
Hyundai Motor shares rose 4.74%, while Nissan Motor and Isuzu rose more than 2% and 1.66% respectively. BYD added 2.96%, while Geely rose 5%.
Investors also weighed in on developments in the Iran war, with US President Donald Trump seeking to delay a meeting with Chinese President Xi Jinping by “a month or so” over the conflict in the Middle East. Trump was expected to travel to China at the end of March.
International benchmark Brent crude rose 2.45% to $102.57 a barrel, while U.S. West Texas Intermediate crude rose 2.51% to $95.85 a barrel by 8:44 p.m. ET, SEEbiz reports. Prices fell on Monday.
Australia’s S&P/ASX 200 added 0.27%. On Tuesday, the Australian central bank raised benchmark interest rates for the second time in a row to 4.1%. The 25 basis point increase was in line with the expectations of analysts polled by Reuters, and comes as inflation in Australia remains above the central bank’s 3% ceiling.
Japan’s Nikkei 225 added 0.75%, while the Topix jumped more than 1%. South Korea’s Kospi rose 2.94%, while the small-cap Kosdaq added 1.53%.
