SoftBank Group up after share buyback plan

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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.

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

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