Asian stocks rose after another decline for Wall Street heavyweight Nvidia leaving US indexes mixed.
Nvidia has experienced a significant decline since briefly being the world’s most valuable company, with over $550 billion (£433 billion) erased from its valuation.
On Monday, the flagship company of the artificial intelligence revolution saw its market capitalisation fall by nearly 7%, dropping to $2.91 trillion (£2.29 trillion).
Japan’s benchmark Nikkei 225 added 0.5% to 39,001.39 after data from the Bank of Japan showed the services producer price index in May was up 2.5% compared to the same period last year, a slowdown from the 2.7% increase seen in April.
The Japanese yen remains a focal point, with the US dollar to Japanese yen exchange rate still trading near its weakest level in approximately 34 years. The yen rose to 159.37 to the dollar in Tuesday morning trading, compared to Monday’s close at 159.59 yen.
The Hang Seng in Hong Kong increased by 0.5% to 18,121.78, while the Shanghai Composite index dipped 0.3% to 2,954.51.
Australia’s S&P/ASX 200 gained 0.9% to 7,799.20. In South Korea, the Kospi climbed 0.5% to 2,777.69.
Elsewhere, Taiwan’s Taiex lost 0.3%, while the SET in Bangkok edged 0.1% higher.
On Wall Street, the Dow Jones Industrial Average of 30 leading US companies hit a one-month high, while the Nasdaq fell more than 1%.
The Dow Jones rose 0.7% to 39,411.21, the S&P 500 lost 0.3% to 5,447.87, and the Nasdaq Composite lost 1% to 17,496.82.
The yield on benchmark 10-year US Treasury bonds fell to 4.23% from 4.257% late on Friday.
