SoftBank Group shares surge 11% as Asian tech stocks rally after Wall Street rebounds
A sharp decline in oil prices lifted sentiment while renewed buying in semiconductor names overnight spilled over into Asia, following last week's bruising sell-off.
The Nikkei stock index rose more than 3 percent on Tuesday, reclaiming the 60,000 level. According to The Mainichi, this surge tracked overnight gains on Wall Street. CNBC reports that a sharp decline in oil prices improved sentiment, while renewed buying in semiconductor names spilled over into Asian markets following a significant sell-off last week.
Nasdaq is planning to extend its trading hours to nearly 23 hours a day starting December 6. This move, which was approved by the US Securities and Exchange Commission in April, will include an overnight window from 9 p.m. to 4 a.m. Eastern Time. According to the South China Morning Post, Nasdaq stated the expansion is intended to meet increasing demand from Asian investors.
The South China Morning Post notes that during US winter time, this new window will overlap with normal trading hours in Hong Kong and Beijing. Market participants expect the change to tighten intraday price correlations across sectors such as semiconductors, biotechnology, electric vehicles, and internet technology.
Brief written by urgent.news from CNBC World, The Mainichi, CNBC, South China Morning Post — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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