Asian shares are mixed after Wall Street pulls near its all-time high
SoftBankSoftBank(US:SFTBY) ABC News·2025-12-04 07:25

Market Overview - Asian shares exhibited mixed performance following a rise in U.S. stocks, with Japan's Nikkei 225 index climbing 2.3% to 51,028.42, nearing its all-time high due to expectations of a U.S. Federal Reserve interest rate cut [2][4] - The S&P 500 gained 0.3% to 6,849.72, just 0.6% shy of its all-time high, while the Dow Jones Industrial Average rose 0.9% to 47,882.90 [5] Company-Specific Developments - SoftBank Group Corp. saw its shares jump 9.2% after the founder reaffirmed a strategic shift towards investments in OpenAI and artificial intelligence, despite being down nearly 28% from a month ago when it sold its stake in Nvidia for $5.8 billion [3] - Microchip Technology experienced a significant increase of 12.2% in its stock price after announcing expectations for sales and profits at the high end of previous forecasts [6] - Marvell Technology's shares rose 7.9% following a stronger-than-expected profit report for the latest quarter [6] Economic Indicators - The yield on Japan's 10-year bond rose above 1.9%, the highest since 2007, indicating potential shifts in monetary policy [3] - U.S. Treasury yields fell, bolstered by a report suggesting job cuts in November, which may increase expectations for a Federal Reserve interest rate cut [7][9] - A report on U.S. services sector activity indicated stronger-than-expected growth, particularly in retail and finance, while inflation pressures appeared to ease [8][9] Commodity and Currency Movements - Bitcoin climbed above $93,000 after a recent decline, reflecting investor sentiment towards lower interest rates [10] - U.S. benchmark crude oil prices increased by 45 cents to $59.40 per barrel, while Brent crude rose by 40 cents to $63.07 per barrel [10] - The U.S. dollar appreciated against the Japanese yen, rising to 155.33 from 155.25, while the euro decreased to $1.1658 from $1.1672 [10]