Asian stocks rise for third day

Stocks rose at the start of trading in the Asia-Pacific region, bolstered by Nvidia’s latest earnings report beating expectations, which boosted shares of technology equipment manufacturers and restored investor confidence. This came after data released overnight showed that the US Federal Reserve’s preferred inflation gauge remained at elevated levels. The broader MSCI Asia-Pacific ex-Japan index rose 0.7%, heading for a third consecutive day of gains, following Nvidia’s announcement that its quarterly revenue doubled and its outlook that third-quarter revenue would exceed Wall Street estimates. Shares of the artificial intelligence chipmaker jumped 4.7% in after-hours trading, pushing mini S&P 500 futures up 0.4%.