Asian stocks rise for third day as Nvidia beats

Asian shares advanced on Thursday, with the regional MSCI index excluding Japan up 0.7% and set for a third straight session of gains, according to Business Recorder. The move followed Nvidia's quarterly report, in which revenue more than doubled and third-quarter guidance came in above Wall Street forecasts. The chipmaker's stock gained 4.7% in after-hours trading, while US stock index futures for the S&P 500 added 0.4%.

South Korea's KOSPI climbed 1.5% after the Bank of Korea lifted its benchmark rate by 25 basis points to 3%, a move largely anticipated by investors. Taiwan's shares added 0.9%, while Japan's Nikkei 225 dipped 0.4%. On Wall Street, the S&P 500 ended flat after a reading showed the Fed's preferred inflation gauge, the PCE index, rose 0.2% in July.

Bond yields eased, with the 10-year Treasury yield down 1.5 basis points at 4.647% ahead of Fed Chair Kevin Warsh's Jackson Hole speech on Friday. Brent crude slipped 0.7% to $87.20 a barrel, extending its decline as Qatar's prime minister heads to Tehran in an effort to restart US-Iran talks. Gold gained 0.7% to $4,624.14, while bitcoin and ether also rose.