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Asian shares mostly declined following a record-setting day for the Nasdaq ahead of the Federal Reserve's upcoming interest rate decision. Tokyo's Nikkei 225 fell 0.2%, while Chinese markets continued to slide, with the Hang Seng down 0.1% and the Shanghai Composite losing 0.7%. In the U.S., the S&P 500 rose 0.4% and the Nasdaq climbed 1.2% to a record close, driven by strong performance from Broadcom. The Fed is expected to announce a third consecutive rate cut, aiming to support the job market as inflation stabilizes near its 2% target.
Asian shares showed mixed results following a record-setting day for the Nasdaq, with Tokyo's Nikkei 225 gaining 0.2% while Chinese markets declined. Investors await the Federal Reserve's interest rate decision, with expectations of a third consecutive cut to support the job market. Bitcoin reached a new high, boosting MicroStrategy shares, while oil prices fell slightly.
Asian shares showed mixed results following a record-setting day for the Nasdaq, as investors await the Federal Reserve's interest rate decision. Tokyo's Nikkei 225 rose 0.2%, buoyed by technology stocks, while Chinese markets declined amid disappointing economic data. South Korea's Kospi fell 1% amid political turmoil, while Australia's S&P/ASX 200 gained 0.8%. The Fed is expected to cut rates for the third consecutive time, with projections for future rate changes and economic indicators to be revealed post-meeting.
Asian shares showed mixed results following a record-setting day for the Nasdaq, as investors await the Federal Reserve's interest rate decision. Tokyo's Nikkei rose 0.2%, while Chinese markets declined, reflecting disappointment over economic policy announcements. The S&P 500 reached an all-time high, driven by expectations of further rate cuts, as Bitcoin surged past $107,000.
Softbank Group's CEO Masayoshi Son announced a $100 billion investment in US AI infrastructure at Trump’s Mar-a-Lago resort, aiming to create 100,000 jobs. This follows a previous $50 billion commitment in 2016, and the new investment is expected to be completed by 2028. Despite past challenges, Softbank's strategic focus on AI has contributed to its recovery, with $175 billion in assets as of late 2024.
Bitcoin surged to a new all-time high of $107,195 following MicroStrategy's $1.5 billion acquisition of 15,350 BTC. The crypto market capitalization reached $3.68 trillion, driven by expectations of a US Federal Reserve rate cut, with altcoins like Hyperliquid and Ondo Finance also experiencing significant gains. Meanwhile, Coinbase faces a $1 billion lawsuit over its delisting of Wrapped Bitcoin, accused of anti-competitive practices favoring its own token.
SoftBank CEO Masayoshi Son is set to announce a $100 billion investment in US artificial intelligence during a meeting with President-elect Donald Trump. This initiative aims to create 100,000 jobs over four years, focusing on semiconductor manufacturing, data centers, and energy infrastructure. Son's strategy emphasizes the development of artificial superintelligence, with plans to raise funds for an AI chip venture called Izanagi to compete with Nvidia. After a cautious investment period, SoftBank is shifting to a more aggressive approach in the AI sector, with a focus on high-risk opportunities.
Paytm Singapore is set to sell its Stock Acquisition Rights in PayPay Corporation to SoftBank Vision Fund 2 for approximately Rs 2,364 crore (JPY 41.9 billion). The deal, expected to close by December 2024, is subject to corporate approvals and customary conditions. Proceeds will bolster Paytm's cash reserves for future initiatives.
OpenAI is facilitating a tender offer allowing current and former employees to sell approximately $1.5 billion in shares to SoftBank, as reported by CNBC. This move follows a $6.6 billion funding round that valued the AI company at $157 billion, with SoftBank already having invested $500 million. The initiative was driven by SoftBank's CEO Masayoshi Son, who aims to increase his stake in the startup.
Masayoshi Son, the founder of SoftBank Group, is set to meet Indian Prime Minister Narendra Modi on Wednesday. Prior to this, he met Mukesh Ambani, chairman of Reliance Industries, to discuss potential artificial intelligence opportunities in India.
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