The Japanese stock exchange showed recovery on Monday, after the heavy price drop on Friday. Tech investor SoftBank was particularly popular.
Investors were pleased to hear that the IPO of office space lessor WeWork, in which SoftBank has a significant interest, has come one step closer. The chip companies were also picked up again thanks to the price recovery in the American chip sector.
The Nikkei in Tokyo ended up 2.4 percent higher at 29,663.50 points. On Friday, the Japanese main index lost 4 percent. That was the most significant loss of the day in almost a year. SoftBank, a heavyweight in the Nikkei, is more than 5 percent thick.
The group reached an arrangement with former WeWork CEO Adam Neumann, who had previously sued the Japanese investor. It was critical to settle the dispute with Neumann before WeWork went public.
The Japanese chip companies Tokyo Electron and Advantest gained up to 4 percent after the recent sharp price losses in the sector. Itochu rose more than 3 percent. Berkshire Hathaway, the investment company of American super investor Warren Buffett, has taken more than 5 percent in the Japanese trading house.
In Shanghai, the stock market gauge was 0.8 percent in the plus, and the Hang Seng index in Hong Kong climbed 1.2 percent. According to market researchers Caixin and Markit, activity in the Chinese industry picked up again in February. Growth did decline compared to January and fell to the level of May last year.
Figures from the Chinese government already showed last weekend that the industry’s growth rate fell in February due to the holiday period around the celebration of the Chinese New Year. In South Korea, investors had a day off.
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