Japan Stocks Open Higher After Three-Day Holiday, SoftBank Rises Over 6%, Kioxia Up Nearly 4%; South Korean Markets Closed
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On September 24, following a three-day closure, the Nikkei 225 Index rose 1.25% to 65,828.43, driven by gains in semiconductor and tech stocks like SoftBank Group, which advanced 6.24%. Despite positive domestic momentum, SoftBank's subsidiary, SB Energy, postponed its planned September IPO due to insufficient investor demand and valuation challenges. Meanwhile, Japanese markets advanced independently as major U.S. indices closed lower overnight, with the Dow dropping 0.68%, the S&P 500 falling 0.75%, and the Nasdaq declining 1.13%.
TradingKey - On September 24, Japanese stocks resumed trading after a three-day market closure, with the Nikkei 225 Index (JPN225) opening 0.6% higher before extending gains to 1.25% to reach 65,828.43. Meanwhile, South Korean stock markets were closed for a holiday.
Source: TradingView
Japanese tech stocks gained strength in morning trading. In early trading, SoftBank Group rose 6.24% to 6,709 yen (about $42), while Kioxia advanced 3.76% to 56,620 yen, showing active trading in the semiconductor and technology sectors.
The New York Times previously reported, citing people familiar with the matter, that SB Energy had originally planned to conduct an initial public offering in September, but the IPO has now been postponed. According to the report, within the valuation range proposed by the company and its underwriting banks, there were insufficient potential investors in the market, making it difficult for the underwriting team to secure adequate subscriptions.
As Japanese stocks resumed trading today, major overnight U.S. stock indices fell across the board. At the close, the Dow Jones Industrial Average dropped 0.68% to 51,511.59; the S&P 500 Index fell 0.75% to 7,706.03; and the Nasdaq Composite Index declined 1.13% to 26,936.04.
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
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