Morning Bid: New Zealand, Indonesia set rates; Nvidia vigil almost over
A look at the day ahead in Asian markets.
New Zealand, Indonesia to set rates
The Reserve Bank of New Zealand (RBNZ) is widely expected to raise its benchmark interest rate by 50 basis points to 2.5% on Wednesday, its third consecutive hike of that size. (Full Article)
Bank Indonesia is also set to announce its rate decision on Wednesday, with most economists predicting a 25 basis point hike to 4.25%. (Full Article)
Nvidia earnings in focus
After the closing bell on Wednesday, chipmaker Nvidia is scheduled to report its second-quarter earnings. Analysts expect the company to post a profit of $1.28 per share on revenue of $8.1 billion. (Full Article)
Nvidia’s results will be closely watched as a bellwether for the technology sector, which has been under pressure in recent months amid concerns about slowing economic growth. (Full Article)
China tech stocks show more appeal
Chinese tech stocks listed in Hong Kong outperformed on Tuesday, with the Hang Seng Tech Index rising 1.7%. This follows a recent trend of increased inflows into Chinese assets, as investors bet on a recovery in the world’s second-largest economy.
Analysts attribute the renewed interest in Chinese tech stocks to a combination of factors, including Beijing’s recent regulatory crackdown easing, improving economic data, and attractive valuations. (Full Article)
Russia’s crude exports edge higher
Russia’s crude oil exports rose to 4.33 million barrels per day (bpd) in the first half of August, up from 4.17 million bpd in the previous two weeks, according to data from Refinitiv Eikon. (Full Article)
The increase in exports comes despite Western sanctions and a price cap imposed by the United States and its allies. However, analysts caution that it is too early to say whether this trend will continue, as Russia faces challenges in finding new buyers and shipping its oil.
Priyanka 
Deepika