The Stock Exchange in Japan Started With A Profit on Monday
The stock exchange in Japan started the new trading week with a profit on Monday. Heavyweight SoftBank was in demand thanks to a significant takeover deal from the Japanese tech investor.
In addition, the results of the election by Japan’s ruling party of Prime Minister Shinzo Abe’s successor were also looked forward to. The other stock market indicators in the Asian region also improved.
The main index in Tokyo, the Nikkei 225, ended 0.7 percent higher at 23,559.30 points. SoftBank thickness 9 percent.
The Japanese technology group sells British chip designer ARM Holdings to American chip and graphics card manufacturer Nvidia. With a price tag of up to $ 40 billion, it is one of the largest acquisitions in the chip industry ever.
Current cabinet secretary Yoshihide Suga is expected to be elected by Japan’s Liberal Democratic Party (LDP) later today as the new party leader and successor to Prime Minister Shinzo Abe. He is stepping down on health grounds.
Suga, Abe’s right-hand man, has already indicated that he will continue the policy of his predecessor. On a macroeconomic level, it also appeared that production in the large Japanese industry increased by 8.7 percent every month in July. That was stronger than the 8 percent increase previously reported.
In the meantime, the stock exchange in Shanghai recorded 0.4 percent in the plus, and the Hang Seng index in Hong Kong rose 0.7 percent.
The Kospi in Seoul won 1.2 percent, and the Australian All Ordinaries in Sydney climbed 0.5 percent. Australian investment bank Macquarie Group fell nearly 5 percent after a 35 percent decline in its profits in the first half.