Asian shares surge as oil prices fall and Wall Street rebounds on stronger-than-expected Nvidia earnings

Nvidia reported profit rocketed more than 200% higher in the February-April quarter from a year earlier, while revenue jumped 85%. Despite this, Nvidia shares fell 1.3% in afterhours trading after the announcement.

South Korea's Kospi soared 6.7% to 7,688.43, with Samsung Electronics gaining 6.3% and SK Hynix surging 9.5%. Taiwan's Taiex gained 3.3%, Tokyo's Nikkei 225 jumped 3.5% to 61,877.89, and Australia's S&P/ASX 200 picked up 1.3% to 8,606.70.

U.S. bond yields eased, with the 10-year Treasury yield falling to 4.57% from 4.67% late Tuesday. Oil prices edged higher, with Brent gaining 48 cents to $105.50 per barrel and U.S. benchmark crude adding 52 cents to $98.78 per barrel.