TOKYO, Feb 12 (Reuters) - Japan's stock benchmark Nikkei
rose on Wednesday as index heavyweight SoftBank Group Corp
surged after a U.S. federal judge approved a merger between its
U.S. wireless unit Sprint Corp and T-Mobile US Inc.
The benchmark Nikkei average .N225 was up 0.5% at
23,813.52 by the midday break, while the broader Topix .TOPX
fell 0.1% to 1,717.42.
SoftBank Group 9984.T , the country's third-biggest company
by market value, jumped 13.7% and was the most-traded stock on
the main board after a U.S. judge approved a merger between
T-Mobile TMUS.O and Sprint S.N , whose majority owner is
SoftBank. The deal would allow SoftBank Group, which reports its
earnings after market close on Wednesday, offload a troubled
asset at a time when its other major bets face investor
scepticism. The jump in SoftBank Group pushed up the information and
communication sector sub-index .ICOMS.T 2.4%, making it the
best-performing sector on the Tokyo bourse.
But more than two-thirds of the 33 sector sub-indexes were
in negative territory, led by rubber products .IRUBR.T ,
electric and gas .IEPNG.T and construction .ICNST.T .
Overnight, S&P 500 .SPX and the Nasdaq .IXIC inched to
their second consecutive record closing highs, while the Dow
.DJI closed flat, as Chinese officials said the deadly
coronavirus epidemic could be contained by April. .N
In contrast to the upbeat mood on Wall Street, many
Tokyo-listed stocks were weighed down by worries of supply chain
disruptions from the coronavirus outbreak in China, where the
virus has claimed more than 1,100 lives.
Nissan Motor Co 7201.T lost 1.1% after the automaker
temporarily halted production at its plant in Kyushu,
southwestern Japan, due to supply shortages of parts from China,
as the outbreak starts to strain the global supply chain.
- English (USA)
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Nikkei gains as SoftBank Group jumps on Sprint-T-Mobile merger approval
Published 02/12/2020, 11:10 AM
Updated 02/12/2020, 11:16 AM
Nikkei gains as SoftBank Group jumps on Sprint-T-Mobile merger approval
Latest comments
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.