SoftBank Group’s nine-day winning streak ended on Tuesday as its shares fell over 5% following the announcement of a $2 billion investment in Intel. Under the deal, SoftBank will purchase Intel’s common stock at $23 per share, slightly below Intel’s closing price of $23.66 on Monday.
Meanwhile, Asia-Pacific markets mostly declined, reflecting Wall Street’s losses overnight ahead of the upcoming U.S. Federal Reserve meeting. Investors also weighed discussions between U.S. President Donald Trump, Ukraine’s President Volodymyr Zelenskyy, and European leaders at the White House aimed at resolving the Moscow-Kyiv conflict.
Japan’s Nikkei 225 slipped 0.38% to 43,546.29 after hitting a record high the day before, while the broader Topix index dropped 0.14%. South Korea’s Kospi fell 0.81%, and the Kosdaq declined 1.26%. China’s CSI 300 decreased 0.38%, and Hong Kong’s Hang Seng remained mostly flat. Australia’s S&P/ASX 200 lost 0.7%.
In contrast, Indian markets outperformed, with the Nifty 50 rising 0.44% and the BSE Sensex up 0.48%. U.S. futures edged lower ahead of retail earnings reports and Federal Reserve speeches. U.S. indices closed near flat, with the Dow down 0.08%, the S&P 500 off 0.01%, and the Nasdaq slightly up 0.03%. Shares of Meta Platforms and Microsoft fell, pressuring the market.
