Nikkei edges up after SoftBank jumps on strong Q1 results [Reuters]
JAPAN STEEL WORKS ADR (JPSWY)
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Source: Reuters
Nikkei edges up after SoftBank jumps on strong Q1 results | Reuters Reuters Staff 3 Min Read * SoftBank contributes hefty positive points to Nikkei * N/T ratio hits 2-1/2-week high * Investors’ focuses shifted to earnings temporarily - analyst By Ayai Tomisawa TOKYO, Aug 7 (Reuters) - Tokyo’s Nikkei share average edged up on Tuesday morning after index-heavyweight SoftBank jumped on the back of strong first-quarter results, with investors focussed on a further batch of earnings releases from Japan Inc. The Nikkei gained 0.24 percent to 22,562.10 at the midday break. SoftBank Group Corp surged as much as 6 percent to a nine-month high after it reported a 49 percent jump in quarterly profit, boosted by the sale of its stake in Indian e-commerce giant Flipkart in the first public divestment by its massive Vision Fund. The stock contributed a hefty 71 positive points to the Nikkei benchmark index, a key factor in the index’s outperformance against the broader Topix, which only rose 0.15 p
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