Asia stocks rise as Japan’s Softbank soars nearly 9% following Arm deal announcement
Stocks in Asia-Pacific rose in Monday morning trade, with investors watching shares of Japanese conglomerate Softbank Group following an announcement of its sale of U.K. chip designer Arm.
In Japan, the Nikkei 225 rose 0.56% in early trade while the Topix index added 0.69%. South Korea’s Kospi also gained 0.8%.
Australia’s S&P/ASX 200 edged 0.64% higher. Shares of Macquarie Group, however, plunged more than 3% after the firm announced Monday it anticipated a 35% plunge in its first-half earnings
Overall, the MSCI Asia ex-Japan index traded 0.22% higher.
Shares of Japan’s Softbank Group soared Monday morning following an announcement that the firm is set to sell U.K. chip designer Arm to U.S. chip firm Nvidia. In Monday morning trade, Softbank Group’s stock surged 8.75%.
Reference: CNBC
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