Nvidia's results, the last of the technology earnings season, are due shortly. As the largest company by market capitalisation on US exchanges, what it reports carries unusual weight for the broader indices.

The first question is the growth rate in the data-centre segment. Driven by AI infrastructure spending, it has accounted for the bulk of revenue, but with major cloud companies' capital expenditure plans already at elevated levels, the issue is whether growth decelerates.

The second is revenue tied to China. Investors want to see how sales of specification-adjusted products under export controls are recorded, and what assumptions underlie the company's forward guidance.

The third is the delivery schedule for next-generation products. The timing and initial volume of new production shape subsequent quarters, with Taiwanese foundry and advanced packaging capacity acting as a direct constraint.

The effect on Taiwan's market is substantial. Foundries, substrate makers, cooling component suppliers and assemblers sit across Nvidia's supply chain, and volatility in those stocks around results has become a recurring pattern.

For South Korean chipmakers the focus is the outlook for high-bandwidth memory. Nvidia's volume plans feed directly into how memory suppliers allocate capacity.

With US personal consumption expenditures inflation still proving sticky, earnings and rate expectations are setting market direction simultaneously.