Asia shares slip as Iran sanctions threat fades and Nvidia results loom

Asia-Pacific shares fell on Tuesday and oil prices remained under pressure after the Trump administration warned of secondary sanctions against countries maintaining business ties with Iran but imposed no penalties. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.5%, Japan’s Nikkei lost 0.9% and South Korea’s Kospi dropped 2.7%. Investors also focused on Nvidia’s Wednesday results, with quarterly revenue expected to nearly double to about $92 billion and full-year earnings guidance forecast at $103 billion to $105 billion. Alibaba’s $10.2 billion discounted share sale to fund its AI ambitions and disappointment with Samsung Electronics’ shareholder-return plan further weighed on technology stocks. U.S. Treasury yields eased from recent highs after a report that the Treasury Department might use its cash account to finance increased debt buybacks, potentially reducing short-term bill issuance. Oil fell more than 2% overnight before stabilizing, while currency markets reflected demand for dollars amid sanctions concerns and uncertainty over U.S.-Canada trade. Investors are also looking to Federal Reserve Chair Kevin Warsh’s speech in Jackson Hole, Wyoming, for clues on interest-rate policy and the central bank’s response to inflation and fiscal uncertainty.

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