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Asian Shares Are Mixed After Wall Street Inches Closer to Its All-Time High
SoftBank shares rose 9.2% after its AI investment strategy was confirmed amid Nikkei's 2.3% climb toward its all-time high, driven by expectations of a U.S. Federal Reserve rate cut.
- On Thursday, Japan's Nikkei 225 index climbed 2.3% to 51,028.42, nearing its all-time high, while SoftBank Group Corp.'s shares jumped 9.2% after reaffirming an AI focus.
- Investors expect the U.S. Federal Reserve to cut rates next week to support a slowing U.S. jobs market, though Thursday's stronger job reports tempered those hopes.
- Bond-Market moves supported equity gains, with Japan's 10-year government bond yield rising above 1.9% and the 10-year U.S. Treasury yield falling to 4.06% late Tuesday.
- South Korea's Kospi index rose 1.1% to 4,074.00 led by LG Electronics and Hyundai Motors, while Hong Kong's Hang Seng index and Australia's S&P/ASX200 index recovered modestly.
- SoftBank remains nearly 28% below its month-ago level after selling its Nvidia stake for $5.8 billion to fund AI investments, while bitcoin climbed above $93,000 in recent weeks.
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14 Articles
14 Articles
Associated Press News+12 Reposted by 12 other sources
Asian shares are mixed after Wall Street inches closer to its all-time high
Asian shares are mixed after the U.S. stock market held near its records in a quiet day of trading. U.S. futures were higher while oil prices fell.
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Coverage Details
Total News Sources14
Leaning Left5Leaning Right3Center4Last UpdatedBias Distribution42% Left
Bias Distribution
- 42% of the sources lean Left
42% Left
L 42%
C 33%
R 25%
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