SINGAPORE — Shares in Asia-Pacific rose in Monday trade following overnight gains on Wall Street that took the major indexes to record closing highs.
Shares of Japanese conglomerate SoftBank Group soared 10.42% 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 0.13% while the Topix index traded below the flatline.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.38% higher.
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.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 94.052 after a recent decline from above 94.2.