---
title: "Asian shares, US dollar climb on rosy data, tech optimism"
description: "Asian shares rally on positive US economic signs and easing trade tensions. Nvidia's earnings await as markets remain optimistic."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "MARKETS WRAP"
author: "Reuters"
author_url: "https://www.dailymaverick.co.za/author/reuters/"
canonical_url: "https://www.dailymaverick.co.za/article/2025-05-28-asian-shares-us-dollar-climb-on-rosy-data-tech-optimism/"
published: "2025-05-28T05:58:47"
updated: "2025-05-28T05:58:49"
lang: "en-ZA"
word_count: 364
---

# Asian shares, US dollar climb on rosy data, tech optimism

> Asian shares rally on positive US economic signs and easing trade tensions. Nvidia's earnings await as markets remain optimistic.

By Reuters · Published 28 May 2025, 07:58 SAST · Updated 28 May 2025, 07:58 SAST

## Key points
- Asian markets are riding the coattails of Wall Street's optimism, buoyed by Nvidia's potential earnings magic and a hint of diplomatic warmth between the US and Europe, while the dollar flexes its muscles and oil prices inch up amid tighter supply prospects.
- Asian shares extend rally from Wall Street as optimism grows over US economic indicators and tech earnings.
- Nvidia's anticipated earnings report fuels confidence, with expectations of a 66.2% revenue surge to $43.28 billion.
- Easing US-Europe trade tensions emerge as EU officials seek US investment plans from companies.
- Oil prices rise amid US restrictions on Chevron's Venezuelan exports, hinting at potential supply tightness.

## Content

TOKYO, May 28 (Reuters) - Asian shares continued a rally from Wall Street and the dollar held gains on Wednesday on promising economic signs in the United States and speculation of strong tech earnings.

Markets welcomed what appeared to be easing trade frictions between the US and Europe while global bond markets settled down after a scary surge in long-term yields. US consumer confidence surprised on the upside ahead of closely watched jobs figures on Thursday.

Nvidia jumped more than 4% yesterday and will be the last of the Magnificent 7 tech giants to report earnings after markets close in the US .

"There is renewed confidence that Nvidia can beat the consensus estimates," said Chris Weston, head of research at Pepperstone.

If Nvidia comes through with better-than-expected sales and profit margins "the rally is on," he added.

The chipmaker is expected to report that first-quarter revenue surged 66.2% to $43.28 billion, according to data compiled by LSEG.

In signs of a thaw between the US and Europe, European Union officials have asked companies for details of their US investment plans, according to two sources familiar with the matter.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3% in morning trading while Japan's Nikkei advanced 0.6%, climbing a fourth straight session.

The dollar index, which tracks the greenback against a basket of currencies, rose 0.1%, adding to Tuesday's 0.6% rally. The greenback advanced 0.1% to $1.132 against the euro.

Australian shares were up 0.17%, but the nation's currency slid 0.2% after April consumer price data came in above expectations. The kiwi dollar slid 0.3% after the Reserve Bank of New Zealand cut rates as expected.

Japanese bonds slid, trimming a surge yesterday, ahead of a 40-year auction and on speculation the Ministry of Finance will reduce the issuance of long-dated securities.

Oil prices ticked up in early trading as the US barred Chevron from exporting crude from Venezuela under a new authorization on its assets there, raising the prospect of tighter supply.

Brent crude futures rose 0.4% to $64.37 a barrel, while US Spot gold rallied 0.1% after dropping more than 1% on Tuesday.

(Rocky Swift in Tokyo; Editing by Saad Sayeed)