Shares of Japan’s conglomerate SoftBank Group jumped more than 8% on Monday. Interestingly, shares of SoftBank jumped around 9% following an announcement that the firm made the decision to sell chip designer Arm to Nvidia.
Importantly, Nvidia agreed to buy the chip designer from the U.K. in a deal worth $40 billion. The companies announced this deal on Sunday. It is worth noting that, the deal will be a mix of $21.5 billion in Nvidia stock as well as $12 billion in cash, including $2 billion payable at signing.
Interestingly, this announcement helped to boost the shares of major chip firms in the region. For example, shares of SK Hynix in South Korea added 2.04%. Also, Samsung Electronics added 2.37%. Moreover, shares of Taiwan Semiconductor Manufacturing Company also advanced 1.03%.
Investors are closely monitoring the situation in Japan. The successor to Prime Minister Shinzo Abe was announced on Monday. Yoshihide Suga will become Japan’s next prime minister. He won a ruling Liberal Democratic Party leadership election on Monday. Last month, the country’s long-serving Prime Minister decided to leave his post.
Shares of famous companies and interesting details
As can be seen from the information stated above, shares of SoftBank Group soared on Monday.
Let’s have a look at the stocks in Asia. Stocks in the Asia Pacific saw gains on the day, as investors analyzed the information regarding the SoftBank-Nvidia deal.
Interestingly, South Korea’s Kospi index added 1.3% on the day to 2’427.91.
In Japan, the Nikkei 225 gained 0.65% to close at 23’559.30. At the same time, the Topix index advanced 0.88% to end its trading day at 1’651.10.
Mainland Chinese stocks strengthened their positions on Monday. The Shanghai Composite added 0.57% to about 3’278.81. Also, the Shenzhen Component gained 0.611% to around 13’021.99.
Hong Kong’s Hang Seng index advanced 0.77% as of its final hour of trading.
Australia’s S&P/ASX 200 gained about 0.68% to 5’899.50.