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Asian markets were mixed after Softbank shares rose 17 percent

2019-02-07 07:35 am | Resource: NEWS | No Views : 237

Markets in Japan, South Korea and Australia were mixed on Thursday after Japan's Softbank rose more than 17 percent. At the earnings conference yesterday, Softbank CEO announced the repurchase of 112 million shares worth 600 billion yen (about 5.46 billion dollars) in the next 11 months.

In trade, US Treasury Secretary Stephen Manuchen said on Tuesday he would go to China next week with a delegation from Washington for further talks with Chinese representatives in an attempt to meet the deadline by agreement.

Softbank shares up to 16% after the announcement of repurchase

Shares in Japan's Softbank rose 16 percent on Thursday after chief executive Masayoshi Son announced that the company would buy back shares following a positive earnings report.

Bank Softbank said earlier Wednesday it would repurchase 112 million shares worth 600 billion yen (about 5.46 billion dollars) next year. The shares constitute about 10.3% of the total outstanding unlisted shares, including treasury shares. The announcement came on the back of a strong earnings report for the company, which posted a 31% year-on-year increase in profits and operating income rose 242.09% yoy.
  • Softbank shares rose 17.08% at 2:43 CET.

North Korea will not insist on US troops leaving South Korea -

North Korea does not plan to demand the total elimination of US troops from the Korean Peninsula, the Korean News newspaper reported on Thursday.

Earlier in the day, a South Korean lawmaker said Seoul planned to increase defense spending. The country paid about $ 850 million to US troops to stay in the country last year but plans to increase the number by 8.2 percent in 2019. At the same time, the United States is demanding an investment of close to $ 1 billion.

Washington has about 30,000 troops in South Korea, and the military exercises of the US and South Korean armies have been a continuing view of Pyongyang.

North Korean leader Kim Jong-un and US President Donald Trump are scheduled to meet from February 27 to 28 in Vietnam.

Asian Markets
  • The Nikkei 225 fell 0.59% to close. In Seoul, the composite Kospi index traded at 7:32 am CET on the day of reopening.
  • The Australian Standard & Poor's (ASX 200) rose 1.10% at 6:39 am, driven mainly by the banking sector.

The Dollar was steady against the Yen and sold at 109.9635 at 7:58 CET.

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