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Nikkei rises on Wall Street record; SoftBank soars on US investment plan

Wednesday, December 7, 2016 - 14:22

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[TOKYO] Japan's Nikkei share average rose on Wednesday, buoyed by a surge in index-heavyweight SoftBank after it announced a bold investment foray into the United States.

SoftBank ended 6.2 per cent higher after Chief Executive Masayoshi Son said he would invest US$50 billion in US companies.

The Nikkei gained 0.7 per cent to 18,496.69 points. SoftBank contributed a hefty positive 50 points to the Nikkei, or more than a third of the benchmark index's point gains.

The broader Topix advanced 0.9 per cent to 1,490.62 and the JPX-Nikkei Index 400 added 0.8 per cent to 13,344.30.

Investment sentiment was also supported by another record close on Wall Street overnight.

REUTERS

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