Sun, July 21, 2024

SoftBank Group and Stock Markets

Stock market news on Wednesday

Stock markets around the world are trying to deal with the coronavirus outbreak. Two days ago, the S&P 500 closed 0.2% higher at 3,357.75. Meanwhile, the Nasdaq composite gained 0.1% to end its trading day at 9,638.94.

The Dow Jones Industrial Average increased as much as 138 pints. However, at the end of the trading day, it was flat.

According to U.S. Federal Reserve Chairman Jerome Powell, the central bank is monitoring the situation. Coronavirus crisis created questions regarding its impact on the global economy.

Currently, there are only several confirmed cases of coronavirus in the U.S. Consequently, the impact on the U.S. economy is minimal. Nevertheless, the situation might change in the future, as this virus disputed the supply chain.

Stock markets in AsiaStock market news

On February 12, stocks in Asia had a positive day despite the ongoing coronavirus crisis. The Shenzhen component rose 1.6% to close at 10,940.80.

Mainland Chinese stocks reached the best results in the region. The Shenzhen composite gained 1.554% to end its trading day at about 1,785.33. At the same time, the Shanghai composite gained 0.87% to close around 2,926.90.

Hong Kong’s Hang Seng index rose 1.1% as of its final hour of trading.

The Nikkei 225 added 0.74% to close at 23,861.21. Shares of index heavyweight and conglomerate Softbank Group jumped 11.89%. This week, A judge approved a merger between T-Mobile and Sprint. Japanese SoftBank Group Corp. is a major shareholder of Sprint.

SoftBank Group Corp. is the second-largest publicly traded company in the country after Toyota.

Another Japanese stock index Topix experienced problems on Wednesday. Its index declined slightly to 1,718.92.

Hopefully, South Korea’s Kospi index gained 0.69% to close at 2,238.38.

In Australia, the S&P/ASX 200 finished its trading day 0.74% higher at 7,088.20. The major factor that helped the index is the Commonwealth Bank of Australia. Its shares jumped 4.08% thanks to its half-year results.


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