Asian shares meander following US economic updates

While oil costs declined, HONG KONG (AP) – Asian stocks were mixed on Thursday after modest losses on Wall Street.

Key points

• In Japan, the Nikkei 225 slipped 0.2% to 66, 162.72.
• Hong Kong's Hang Seng lost 0.4% to 25, 548.83.
• South Korea's Kospi rose 1.5% to 6, 909.81.
• China documented that expansion in industrial profits slowed in July to 11.2%, down from 15.1% in June.
• Futures were trading higher after Nvidia's latest quarterly earnings beat Wall Street's expectations as demand for its advanced artificial intelligence chips surged.

U.S. Futures were trading higher after Nvidia's latest quarterly earnings beat Wall Street's expectations as demand for its advanced artificial intelligence chips surged.

In Japan, the Nikkei 225 slipped 0.2% to 66, 162.72. Multinational investment holding firm SoftBank Group. It invests in OpenAI, gained 0.1%.

South Korea's Kospi rose 1.5% to 6, 909.81. Shares of market heavyweight Samsung Electronics were 2% higher.

Japan's and South Korea's stock markets have been among the biggest beneficiaries from the global AI frenzy, alongside Taiwan's market. Its benchmark Taiex index continued 0.5%.

Hong Kong's Hang Seng lost 0.4% to 25, 548.83. The Shanghai Composite index rose 0.6% to 3, 935.99.

In short, asian shares meander following US economic updates is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.