Japanese Stocks Hit New Highs as SoftBank Surges 13%, Yen Weakens Past 153, Copper Jumps 4% While Gold and Oil Retreat

Deep News
Oct 09

On October 9th, Asian equity markets advanced broadly, driven by strength in technology stocks. The Nikkei 225 and Tokyo Stock Exchange indices both reached record highs, with SoftBank Group leading the rally, surging over 13% intraday to hit an all-time high.

US and European markets showed mixed performance, with American stock futures trading relatively flat and European shares opening lower.

In bond markets, yields on Japanese 10-year government bonds and US 10-year Treasuries remained largely unchanged.

Commodity markets saw mixed action, with gold and crude oil declining modestly while copper prices approached historical peaks.

The Nikkei 225 index broke through 48,536 points, establishing a new record high. India's Sensex index gained 0.3% to 82,044, while Singapore's FTSE Straits Times Index fell 0.16% to 4,449.27.

Spot gold declined 0.1% to $2,037.48 per ounce.

SoftBank Group shares soared as much as 13%, reaching an intraday record. The surge followed reports that SoftBank plans to acquire ABB Limited's robotics division, boosting investor expectations for profit growth driven by artificial intelligence. Additionally, Graphcore, a UK-based chip design company owned by SoftBank, announced plans to invest £1 billion ($1.3 billion) in India, including the establishment of a new research center.

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