Asian markets largely set to extend gains as Nasdaq hits record high | Wilnesh News

Asia-Pacific shares extend gains on Monday as tech stocks push Nasdaq Index A record high.

Nvidia The company’s shares rose more than 2% overnight as calls from multiple bullish analysts highlighted the company’s superior market position.

Several Wall Street firms also raised their price targets for the artificial intelligence darling ahead of the earnings report, suggesting shares could rise as much as 30% from current levels.

High-tech Nasdaq It rose 0.65%, hitting an intraday record high, and closed at a record high of 16,794.87 points.

Asian investors will focus on the spillover effects from companies upstream and downstream of Nvidia’s value chain, such as companies in Taiwan British Semiconductor and Foxconnas well as South Korea’s Samsung Electronics and SK Hynix.

Japan’s Nikkei 225 Index It is expected to continue to exceed the 39,000 point mark, with the Chicago futures contract at 39,290 points and the Osaka futures contract at 39,220 points, while the index’s last closing price was 39,069.68 points.

Australian futures S&P/ASX 200 Index The opening price was 7,879 points and the last closing price was 7,863.7 points. The country’s central bank will publish minutes of its May meeting later on Tuesday.

Meanwhile, Hong Kong’s Hang Seng Index futures were quoted at 19,498 points, opening weaker than the Hang Seng Index’s closing point of 19,636.22 points.

Overnight in America, Dow Jones Industrial Average Underperforms the market compared to the Nasdaq because JPMorgan resulting in losses.

JPMorgan shares fell 4.5% after Chief Executive Jamie Dimon said at the bank’s annual investment conference that he may retire earlier than previously stated. Dimon also said the bank would only support stocks at current levels.

The 30 stocks in the Dow Jones Industrial Average fell 0.49%, while the broader market S&P 500 Index It rose slightly by 0.09%.

—CNBC’s Lisa Kailai Han and Hakyung Kim contributed to this report.