Posted 2/23/2024, 3:13:07 AM
Asian Stocks Rise on AI Chip Demand; Nvidia Soars 16% as Fed Hints at Rate Cuts
- Asian markets climbed after record highs in Japanese, US and European markets, driven by AI chip demand
- Nvidia stock surged over 16% to near $2 trillion market cap on strong earnings from AI chips
- 3 Fed officials signaled possible interest rate cuts later this year
- China property foreclosures increased, reflecting struggles in housing sector
- Traders will watch China house price data Friday for signs of improvement in property downturn