Manila, Aug 28 (AP) World shares were mixed Thursday after modest gains on Wall Street lifted the S&P 500 to another all-time high ahead of computer chipmaker Nvidia's highly anticipated earnings report.

The future for S&P 500 rose 0.1% while that for the Dow Jones Industrial Average added 0.3%. Meanwhile, oil prices declined.

In early European trading, Germany's DAX climbed 0.4% to 24,144.65 while Britain's FTSE 100 slipped 0.2% to 9,240.75. In Paris, the CAC 40 jumped 1.1% to 7,825.28.

In China, shares in computer chipmaker Cambricon Technologies soared 15.7% to 1,587.91 yuan ($222), becoming the priciest stock on Shanghai's exchange as it surpassed Kweichou Moutai's stock, which slipped to 1,446 yuan ($202) a share.

Cambricon's shares have jumped after it reported its revenue and profit expanded many fold in the first half of the year, helped by the Chinese government's support for domestic semiconductor makers.

The Shanghai Composite index surged 1.1% to 3,843.60. It has been trading near decade-high levels on heavy buying by institutional investors.

Hong Kong's Hang Seng dropped 0.8% to 24,998.82, led by losses for technology companies like food delivery company Meituan. Its shares dropped 11.5% while e-commerce giant JD.com declined 4%. Such companies have seen demand sag as Chinese consumers cut back on spending.

Japan's Nikkei 225 added 0.7% to 42,828.79. It has been trading near record levels, despite friction with Washington over a preliminary trade agreement that has yet to be finalised. Top trade envoy Ryohei Akazawa abruptly postponed a trip to the US capital planned for Thursday in the latest sign of trouble over the deal setting tariffs on Japanese exports at 15%, a policy that has yet to come into effect.

South Korea's Kospi climbed 0.3% to 3,196.32 after the Bank of Korea kept its policy rate unchanged at 2.5% for the second review in a row.

Australia's S&P/ASX 200 edged 0.2% higher to 8,980.00. India's BSE Sensex fell 0.7%, reopening following a public holiday after higher US tariffs on the country's exports took effect on Wednesday.

Taiwan's TAIEX shed 1.2%.

Stock indexes in Jakarta and Kuala Lumpur were both higher, while that in Manila fell 1.3%.

On Wednesday, the S&P 500 rose 0.2%, nudging past the record high it set two weeks ago to close at 6,481.40.

The Dow Jones Industrial Average rose 0.3% to 45,565.23, and the Nasdaq composite closed 0.2% higher at 21,590.14.

Technology companies led the way higher, outweighing declines in communication services and other sectors.

After the market closed, Nvidia's quarterly report showed its earnings and revenue topped Wall Street analysts' forecasts, though the company noted that sales of its artificial intelligence chipsets rose at a slower pace than analysts anticipated. The stock fell 3.2% in after-hours trading after having slipped 0.1% during the regular session.

Investors consider Nvidia a barometer for the strength of the boom in artificial intelligence because the company makes most of the chips that power the technology. Its heavy weighting also gives Nvidia outsize influence as a bellwether for the broader market.

Trading on Wall Street was off to an uneven start this week following big gains last week on hopes for interest rate cuts from the Fed.

Markets have been subdued since Trump escalated his fight with the central bank by trying to fire Federal Reserve Governor Lisa Cook. Cook's lawyer said she will sue Trump's administration to try to stop him.

Trump has been feuding with the central bank over its cautious interest rate policy. The Fed has held rates steady since late 2024 over worries that Trump's unpredictable tariff policies will reignite inflation.

In other dealings early Thursday, US benchmark crude dropped 48 cents to $63.67 per barrel. Brent crude, the international standard, declined 47 cents to $66.97 per barrel.

The dollar fell to 147.24 Japanese yen, down from 147.40 yen. The euro rose to $1.1639 from $1.1640. (AP) SCY SCY

Trade tariffs drive market volatility as tariff actions and central bank tensions influence global stock movements. Global equities moved unevenly as modest US gains contrasted with regional declines; technology stocks led US advances while Nvidia's stronger-than-expected quarterly results coincided with after-hours weakness amid slower AI chipset sales growth, reflecting its outsized market influence. Trade-policy actions, including higher US tariffs on a major trading partner and uncertainty over a preliminary trade agreement, weighed on specific national markets. Monetary-policy tensions and political disputes involving central bank governance reinforced market caution and influenced short-term trading and institutional buying patterns.