Spread in Asia – large companies are collapsing

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Spread in Asia – large companies are collapsing
Photo: Eugene Hoshiko/AP/TT

Stock markets in Asia are moving in different directions on Wednesday. Japanese investment company Softbank is falling sharply after selling its stake in Nvidia.

The Tokyo stock market opened the trading day with a slight decline, but recovered slightly and was down 0.3 percent after the lunch close. Also down was the technology-heavy investment company Softbank, which announced on Tuesday that it had sold its entire holding in the American chip giant Nvidia. At lunchtime, Softbank's shares were down about 7 percent.

The sale brought in the equivalent of SEK 55 billion, which will reportedly be used for other types of AI investments.

Stock markets in China also fell on Wednesday. Shenzhen was down just over 1.0 percent at lunchtime, while the Shanghai Composite Index fell by 0.2 percent.

The Hong Kong-based Hang Seng is up 0.6 percent.

South Korea's Kospi is up just over 1 percent. The index has increased by around 70 percent in total over the past year.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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