2023-08-21 00:55:40
The Tokyo Stock Exchange went up on Monday morning, despite the very mixed session on Wall Street last Friday once morest a backdrop of fears regarding the Chinese economy and persistent concerns regarding US monetary policy.
The Nikkei index of 225 Japanese star stocks gained 0.78% to 31,695.97 points and the broader Topix index took 0.46% to 2,247.51 points.
The Tokyo market was expected to benefit from cheap buying by investors on Monday, following three sessions of decline following the Nikkei, according to analyst Toshiyuki Kanayama of online broker Monex.
SoftBank prepares Arm’s IPO
According to the Wall Street Journal, SoftBank Group (-0.06%) recently bought for some $16 billion the 25% share of its Arm microprocessor subsidiary which was owned by its Vision Fund unit, including Gulf sovereign wealth funds. are very present in the capital.
This internal operation – not confirmed for the time being by SoftBank Group – is a step towards the initial public offering (IPO) of Arm in New York which might take place in September. This British company would thus be valued at more than 64 billion dollars, or regarding double the price of its acquisition by the Japanese group in 2016. It would be the largest IPO of this year so far in the world.
Oil is stagnating
The yen appreciated slightly once morest the dollar, which was worth 145.15 yen around 0040 GMT once morest 145.39 yen on Friday at 2100 GMT.
The Japanese currency also gained some ground once morest the euro, which traded at 157.99 yen once morest 158.08 yen at the end of last week.
The euro rose to 1.0884 dollars once morest 1.0873 dollars on Friday at 9:00 p.m. GMT.
The oil market was almost stable: around 00:25 GMT the American barrel of WTI gained barely 0.06% to 81.30 dollars and the barrel of Brent from the North Sea yielded 0.06% to 84.75 dollars.
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