SoftBank Boosts Japan Stocks, Beating Impact of `Super Thursday'
- U.K. election not a big factor for Japan investors: Daiwa
- SoftBank accounts for more than 40% of Nikkei’s advance
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Japanese equities rose as SoftBank Group Corp.’s climb to a 17-year high helped boost market sentiment as investors weighed a trio of highly anticipated events that had been referred to as “Super Thursday”.
SoftBank rose 7.4 percent to the highest level since May 2000 after Mizuho upgraded it to buy and Alibaba Group Holding Ltd.’s sales forecast beat expectations. The stock accounted for over 70 percent of the Nikkei 225 average’s 104-point gain. The Topix index closed higher after swinging between gains and losses, and the yen weakened, as the market continued to digest former FBI chief James Comey’s Senate testimony, the European Central Bank rate decision and U.K. election results.