Asian Markets Dip as Nvidia Hit by New U.S. Export Curbs
Asian shares mostly declined after Nvidia revealed it had been caught in the crossfire of Donald Trump’s trade war.
The chipmaker’s stock fell 6.3% in after-hours trading following news that the U.S. government had tightened restrictions on the export of one of its artificial intelligence-focused computer chips.
Chinese markets led the losses after Beijing reported that the country’s economic growth slowed to 1.2% in the first quarter of the year, down from 1.6% in the final quarter of 2024.
Hong Kong’s Hang Seng Index dropped 2.5% to 20,922.54, while the Shanghai Composite slipped 0.9% to 3,237.60. Japan’s Nikkei 225 lost 0.9%, closing at 22,948.18.
Elsewhere, South Korea’s Kospi declined 0.7% to 2,461.45. Australia’s S&P/ASX 200 bucked the trend with a 0.3% gain, finishing at 7,781.10. India’s Sensex was little changed, while Bangkok’s SET index rose 0.2%.
On Wall Street, markets ended slightly lower in a subdued session. The S&P 500 dipped 0.2% to 5,396.63, the Dow Jones Industrial Average slid 0.4% to 40,368.96, and the Nasdaq edged down less than 0.1% to 16,823.17.
In the bond market, the yield on the benchmark 10-year U.S. Treasury note eased to 4.339% from 4.352% late Monday.
