Asian stocks slip as AI focus targets NVIDIA, Jackson Hole
Asian stocks slipped a bit on Monday, with the artificial intelligence theme in early focus ahead of NVIDIA earnings and the Fed's Jackson Hole gathering.
The MSCI Asia Pacific Index nudged down 0.1%, while South Korea's Kospi, a bellwether for AI investments, dropped 1.2%.
Meanwhile, US tech futures managed a small bounce, hinting at mixed vibes across the board.
NVIDIA, Fed speech and Alibaba sale
All eyes are on NVIDIA's upcoming earnings and the Fed chair's big speech at Jackson Hole, both expected to give clues about interest rates and where AI investments might head next.
Plus, Alibaba just announced a massive about $10.2 billion share sale to boost its AI game, but the share-sale price was a discount of 3.6% to the closing price of Alibaba's American depositary receipts on Friday.
Oil prices dipped slightly after recent highs but are still up more than 50% this year thanks to ongoing U.S.-Iran tensions disrupting supply routes.