Asian stocks mixed as investors await Nvidia earnings, oil falls on Hormuz talks

Asian stocks were mixed on Wednesday as investors awaited Nvidia's second-quarter earnings, while falling oil prices dragged bond yields lower on hopes the Strait of Hormuz could reopen. Brent crude futures fell over 2% to $86.41 per barrel after Iran said it restarted talks with Oman to manage the strait, which handled a fifth of global traded oil before the conflict. The yield on US 10-year notes stood at 4.634%. Investors are focused on whether Nvidia's results can sustain the AI spending boom, with analysts expecting an 82.8% rise in third-quarter sales to $104.20 billion. US inflation data is due later, ahead of the Jackson Hole symposium.