Asian Stocks Mixed as China GDP Surprises, Nvidia Resumes Chip Sales in China

Asian equities traded in a narrow band on Tuesday as stronger-than-expected Chinese GDP data did little to offset broader concerns over escalating U.S. trade tariffs and fresh losses in the Chinese real estate sector.

Markets Cautious Despite China GDP Beat

China's Q2 GDP figures beat estimates, signaling pockets of resilience in the world's second-largest economy. However, markets remained skeptical, with the Shanghai Composite down 1% and the CSI 300 falling 0.6%.

A fresh profit warning from property major China Vanke intensified bearish sentiment, as the firm projected a $1.67 billion H1 loss, underscoring persistent weakness in the property sector.

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Nvidia Lifts Tech Amid U.S.-China Thaw

Technology stocks saw a slight reprieve after Nvidia (NASDAQ:NVDA) confirmed that Washington will allow it to resume sales of its H20 AI chip to Chinese firms. The announcement helped S&P 500 Futures pare early losses and lifted sentiment around the broader semiconductor sector.

This move reflects an easing in U.S.-China chip export restrictions, even as President Donald Trump's wider tariff policy remains a drag on global investor confidence. Japan and South Korea, both key trading partners, are now facing 25% levies, impacting sentiment across Nikkei 225, TOPIX, and KOSPI, all of which edged lower.

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Key Levels

• Nikkei 225: -0.2%

• KOSPI: -0.1%

• Shanghai Composite: -1%

• CSI 300: -0.6%

• S&P 500 Futures: Recovered from early red to near flat

With U.S. CPI data on deck later today, traders are staying defensive, awaiting clues on how recent tariff escalations may impact inflation and monetary policy in the near term.