Asian markets opened mixed on Monday, with Japan's benchmark indices advancing while South Korean and Australian equities declined. The Nikkei 225 rose 1.44%, while the broader Topix gained 2.09%. South Korea's Kospi fell 0.69% and the small-cap Kosdaq declined 0.87%. Australia's S&P/ASX 200 lost 0.31%, reversing its initial gains.
The moves came as investors assessed the outlook for technology stocks ahead of a busy week of corporate earnings and economic data. Developments involving Nvidia added to uncertainty in the sector, while markets also looked ahead to key US inflation figures for clues about the economic outlook.
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Nvidia Report Puts Tech Stocks In Focus
US stock futures initially started the week higher as investors assessed whether the recent recovery in technology shares could continue.
S&P 500 futures rose 0.1%, while Nasdaq-100 futures gained 0.3%. Dow Jones Industrial Average futures advanced 101 points, or 0.2%.
However, Nasdaq-100 futures subsequently fell as much as 1% following reports that Nvidia's board had launched an investigation into whether chief executive Jensen Huang had been targeted in a foreign espionage plot. The reports followed Huang's admission of infidelity.
The development put technology stocks under pressure ahead of earnings from major artificial intelligence companies and the release of key economic data.
ALSO READ | Who Is Alice Huang? The Woman Linked to Nvidia CEO Jensen Huang's Affair and a $4.8 Billion Chip Mystery
Brent Crude Slips On Hopes Of US-Iran Progress
Brent crude futures fell 0.4% to around $97.90 a barrel after US President Donald Trump indicated that further military action against Iran was unlikely if negotiations made progress.
CNN reported that Trump described additional strikes as "highly unlikely" if Washington and Tehran moved towards an understanding on Iran's nuclear programme and the reopening of the Strait of Hormuz.
The comments raised hopes of diplomatic progress and eased concerns about further disruption to energy supplies.
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