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Tech stocks dragged by Nvidia's ( NVDA ) forecast

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Bitcoin on the charge, nears $100,000

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Dollar firms as traders pare rate cut bets

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Geopolitical worries keep safe assets supported

(Updates with European futures, Adani stocks move in para 13)

By Ankur Banerjee

SINGAPORE, Nov 21 (Reuters) - Asian equities fell on

Thursday after AI darling Nvidia ( NVDA ) disappointed investors

with slower revenue growth expectations, while the dollar firmed

and bitcoin hit a record high, buoyed by hopes about U.S.

President-elect Donald Trump's policies.

Prevailing geopolitical concerns following the escalating

conflict in Ukraine earlier this week have also weighed on risk

sentiment, leading safe-haven assets higher, including gold and

government bonds.

The spotlight though was on earnings from Nvidia ( NVDA ), the

world's most valuable firm, which projected its slowest revenue

growth in seven quarters. Nasdaq futures slipped 0.31%,

while S&P 500 futures eased 0.21%.

MSCI's broadest index of Asia-Pacific shares outside Japan

fell 0.46%, with tech heavy Taiwan stocks

down 0.58%. Japan's Nikkei fell 0.8%.

Futures indicated European bourses were set for a slightly

higher open, with Eurostoxx 50 futures up 0.13%, German

DAX futures climbing 0.33% and FTSE futures

0.31% firmer.

George Boubouras, head of research at Melbourne-based K2

Asset Management, said the market reaction to Nvidia's ( NVDA ) earnings

was partly a result of very high expectations for each quarterly

result.

"While they delivered impressive revenue growth and

momentum, the market clearly wants more."

Indeed, Nvidia's ( NVDA ) fourth-quarter forecast indicated the

company's revenue growth will slow to roughly 69.5% from 94% in

the third-quarter. Demand for the company's AI chips, which

dominate the market, remained strong.

Charu Chanana, chief investment strategist at Saxo, said

Nvidia ( NVDA ) earnings were a clear indication that momentum in AI was

only growing, with supplies being the bigger headwind rather

than demand.

"The structural AI tailwind could continue to be a key

driver for equities into the next year."

Elsewhere in Asia, stocks in China inched lower,

while Hong Kong's Hang Seng fell 0.25% as the market

remains rangebound even as some global funds follow domestic

money into market segments sheltered from tariffs.

Investor focus will also be on Indian conglomerate Adani

Group after U.S. prosecutors said on Wednesday that Gautam

Adani, billionaire chair of the group, has been indicted in New

York over his role in an alleged multibillion-dollar bribery and

fraud scheme.

The news wiped out $28 billion in market value from Adani

Group companies and dragged India's benchmark equity indexes

lower.

SOARING DOLLAR

The dollar has been on the rise since the U.S. election in

early November on anticipation that proposed tariffs of the

incoming Trump administration will likely be inflationary and

keep rates higher for longer.

The dollar index, which measures the U.S. currency

against six rivals, was at 106.58, not far from the one-year

high of 107.07 it touched last week. The index has risen more

than 2% since the Nov. 5 election.

The prospect of the Federal Reserve having to temper its

rate cut cycle has also boosted the dollar. Markets were pricing

in the Fed lowering borrowing costs by 25 basis points next

month at 56%, down from 82.5% just a week ago, according to

CME's FedWatch Tool.

Two Federal Reserve governors on Wednesday laid out

competing visions of where U.S. monetary policy may be heading,

with one citing ongoing concerns about inflation and another

expressing confidence that price pressures will continue to

ease.

The rise in the dollar has led the Japanese yen back into

intervention territory, leading to verbal warnings from

officials. On Thursday, the Asian currency

strengthened a bit and was last at 155.13 per dollar.

Bitcoin has been on a tear since the election as the

Trump administration are expected to relax regulations and be

crypto friendly.

The world's largest cryptocurrency, bitcoin, soared to touch

a record of $97,902 in Asian hours and was last at $97,305.

In commodities, supply concerns triggered by escalating

geopolitical tensions amid the ongoing war between Russia and

Ukraine led oil prices higher.

Brent crude futures for January rose 0.23% to

$72.98, while U.S. West Texas Intermediate crude futures for

January gained 0.25% at $68.92.

Gold prices were on the rise for a fourth straight session

on safe asset demands. Spot gold rose 0.25% at $2,656 per

ounce.

(Editing by Jacqueline Wong and Sam Holmes)