Japanese Equities Ride Wave of Enthusiasm from SpaceX and OpenAI

Deep News05-21 09:20

On Thursday, the Nikkei 225 index vied with South Korea's KOSPI for leadership in gains. SoftBank Group surged nearly 20% in early trading, propelling the Japanese stock market higher. Masayoshi Son's SoftBank has made significant investments in OpenAI, which is preparing for an IPO, coupled with SpaceX's potential valuation reaching $2 trillion. This has led to a sharp increase in enthusiasm for related sectors, substantially boosting investor sentiment. Meanwhile, foreign capital has been a net buyer of Japanese stocks for the seventh consecutive week, with funds continuously flowing into the market. Despite this, SoftBank's share price has yet to reclaim its early-May peak. A breakthrough above that level is expected to further ignite bullish sentiment among trend-following traders.

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