Asia-Pacific markets rise as SoftBank stock soars after share buyback plan; bitcoin touches record high

Key Points

• Shares in Asia-Pacific rose in Monday trade.
• Shares of Japanese conglomerate SoftBank Group surged about 10% in Tuesday morning trade. The firm announced Monday a plan to buy back up to one trillion yen ($8.83 billion) of its own shares.
• Bitcoin rose to a record high in the morning of Asia trading hours, with the cryptocurrency trading at $67,650.59 as of 9:32 p.m. ET Monday, according to data from Coin Metrics.

SINGAPORE — Shares in Asia-Pacific rose in Monday trade following overnight gains on Wall Street that took the major indexes to record closing highs. Meanwhile, bitcoin touched a record high.

Shares of Japanese conglomerate SoftBank Group soared 10.1% after the firm announced Monday a plan to buy back up to one trillion yen ($8.83 billion) of its own shares. SoftBank on Monday reported a 398 billion yen ($3.5 billion) net loss in the three-month period ended Sept. 30.

Japan’s broader Nikkei 225 gained 0.1% while the Topix index traded 0.08% lower.

Mainland Chinese stocks were mixed, with the Shanghai composite slipping fractionally while the Shenzhen component gained around 0.1%. Hong Kong’s Hang Seng index traded 0.1% higher.

TICKER	COMPANY	NAME	PRICE	CHANGE	%CHANGE
.N225	Nikkei 225 Index	*NIKKEI	29536.17	29.12	0.1
.HSI	Hang Seng Index	*HSI	24801.78	38.01	0.15
.AXJO	S&P/ASX 200	*ASX 200	7458.1	5.9	0.08
.SSEC	Shanghai	*SHANGHAI	3499.33	0.7	0.02
.KS11	KOSPI Index	*KOSPI	2954.23	-5.97	-0.2
.FTFCNBCA	CNBC 100 ASIA IDX	*CNBC 100	10272.02	47.03	0.46

South Korea’s Kospi shed 0.24%. In Australia, the S&P/ASX 200 rose about 0.1%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.25% higher.

Bitcoin surges to record high

Bitcoin rose to a record high in the morning of Asia trading hours, with the cryptocurrency trading at $67,650.59 as of 9:32 p.m. ET Monday, according to data from Coin Metrics. Ether also hit an all-time high, trading at $4,791.35.

The US dollar index, which tracks the greenback against a basket of its peers, was at 94.039 after a recent decline from above 94.2.

The Japanese yen traded at 113.05 per dollar, stronger than levels above 113.5 seen against the greenback yesterday. The Australian dollar was at $0.7403, still off levels above $0.75 seen last week.

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Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.08% to $83.50 per barrel. US crude futures climbed 0.11% to $82.02 per barrel.

Wall Street record highs

All three major indexes on Wall Street advanced to record closing highs following the approval of an infrastructure spending package.

The Dow Jones Industrial Average climbed 104.27 points to 36,432.22 while the S&P 500 gained nearly 0.1% to 4,701.70. The Nasdaq Composite advanced fractionally to 15,982.36. Monday’s gains left all three major indexes closing at record highs.

The U.S. House of Representatives late Friday passed a more than $1 trillion infrastructure bill. First passed by the Senate in August, the package would provide new funding for transportation, utilities and broadband, among other infrastructure projects.

Source : CNBC