SoftBank · Iran · Japan · CNBC Technology
SoftBank climbs more than 12% as Iran-U.S. peace agreement sends Asia stocks soaring
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Asian tech stocks surged Monday, as investors cheer news that Iran and the U.S. have reached a deal to end the Middle East conflict.
Key facts
- Memory chip behemoths and heavyweights on South Korea's Kospi Index, Samsung Electronics and SK Hynix gained 4.65% and 6.42%, respectively
- Taiwan Semiconductor Manufacturing Co, or TSMC rose 2.16%, while Hon Hai Precision, also known as Foxconn, added 2.5%
- The broader tech space has done fairly well, according to Ecaterina Bigos, BNP Paribas Asset Management's chief investment officer of core investments Asia ex Japan
- Japanese tech investor SoftBank was the best performer among major tech stocks in Asia, rising over 12%
Summary
Japanese tech investor SoftBank was the best performer among major tech stocks in Asia, rising over 12%. Memory chip behemoths and heavyweights on South Korea's Kospi Index, Samsung Electronics and SK Hynix gained 4.65% and 6.42%, respectively. Taiwan Semiconductor Manufacturing Co, or TSMC rose 2.16%, while Hon Hai Precision, also known as Foxconn, added 2.5%. Softbank, Samsung Electronics and SK Hynix have seen huge overall gains in recent weeks.