Japan’s Technology Stocks Are Having a Surprisingly Good Year
- SoftBank, Rakuten among biggest gainers on Nikkei 225
- Retail, utilities and pharma slide as market shuns defensives
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Japan’s technology stocks are having a surprisingly good 2019 even as trade tensions have escalated between the world’s largest economies.
Well-known internet and telecom giants Rakuten Inc. and SoftBank Group Corp. are doing especially well, closing the first half with gains of 74% and 41% respectively. The pair are riding expectations for their global investments as well as hopes for their domestic operations.