FX.co ★ Japanese Shares Rise, SoftBank Tumbles

On Wednesday, the Nikkei 225 Index made a slight gain of 0.1%, reaching around 50,880, while the more comprehensive Topix Index rose by 0.8% to hit 3,348. This rebound came after the losses incurred during the previous session, spurred by optimism that the extended US government shutdown might come to a conclusion soon, which in turn improved global market sentiment. Additionally, investors reacted positively to data suggesting a surge in Japan’s manufacturing confidence to its highest point in nearly four years in November, driven by robust international demand for automobiles and electronics, bolstered by a weaker yen. Among the top performers were Fujikura, which increased by 1.9%, Mitsubishi UFJ with a 2.4% rise, Sony Group jumping 3%, Toyota Motor advancing by 1.8%, and Nidec Corp soaring by 5.7%. In contrast, SoftBank Group saw a decline of 5% following its decision to divest its entire $5.83 billion holding in the US chipmaker Nvidia, shifting focus towards OpenAI, the creators of ChatGPT. The company also reduced its investment in T-Mobile, generating proceeds of $9.17 billion.