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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
  Report
Delayed Japan Exchange  -  01:00 2022-12-06 am EST
5917.00 JPY   -2.49%
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China, HK stocks jump over 1% as U.S. rate-hike bets ease

08/11/2022 | 01:03am EST

SHANGHAI, Aug 11 (Reuters) - China and Hong Kong stocks tracked global markets higher on Thursday, as softer-than-expected U.S. inflation data prompted bets of less aggressive rate hikes from the Federal Reserve.

** Sentiment was also aided by a sharp rebound in Chinese property shares, after Longfor Group Holdings denied rumours that it had missed payment on commercial paper.

** China's blue-chip CSI300 Index rose 1.5%, while the Shanghai Composite Index gained 1.2%.

** Hong Kong's stock benchmark Hang Seng bounced 1.8%, after falling to three-month lows in the previous session.

** Slowing U.S. inflation may have opened the door for the Federal Reserve to temper the pace of interest rate hikes, easing the pressure of capital outflows from emerging markets, including China.

** "Slower place of U.S. rate hikes is good news for growth stocks such as major Internet firms," said Linus Yip, chief strategist at First Shanghai Group. The Hang Seng Tech Index jumped 2.7%.

** China stocks also benefit from signs of recovering risk appetite, as outstanding margin loans rose to a four-month high of 1.63 trillion yuan ($241.88 billion).

** But trading in Hong Kong remains tepid, which could limit the strength of the rebound, Yip added.

** Property shares in both China and Hong Kong rebounded on Thursday, led by a surge in Longfor.

** The Chinese developer said late on Wednesday that its commercial paper dues had been settled without any deferred payment, refuting rumours of its default.

** Shares of Alibaba gained roughly 3% in Hong Kong, despite plans by SoftBank Group Corp to slash its stake in the Chinese tech giant. Investors are relived that the Japanese conglomerate will use a derivative called "prepaid forward contracts", rather than directly selling shares in the market.

(Reporting by Shanghai Newsroom; Editing by Sherry Jacob-Phillips)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 0.51% 90.99 Delayed Quote.-23.80%
LONGFOR GROUP HOLDINGS LIMITED 0.38% 26.1 Delayed Quote.-29.16%
S&P/CITIC 300 INDEX 0.55% 3625.77 Real-time Quote.-19.70%
S&P/CITIC 50 INDEX 0.88% 3453.85 Real-time Quote.-18.40%
SOFTBANK GROUP CORP. -2.49% 5917 Delayed Quote.11.67%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.10% 6.97607 Delayed Quote.10.16%
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More news
Analyst Recommendations on SOFTBANK GROUP CORP.
More recommendations
Financials
Sales 2023 6 514 B 47 747 M 47 747 M
Net income 2023 498 B 3 651 M 3 651 M
Net Debt 2023 15 063 B 110 B 110 B
P/E ratio 2023 18,2x
Yield 2023 0,74%
Capitalization 8 651 B 63 371 M 63 408 M
EV / Sales 2023 3,64x
EV / Sales 2024 3,43x
Nbr of Employees 59 721
Free-Float 62,2%
Chart SOFTBANK GROUP CORP.
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SoftBank Group Corp. Technical Analysis Chart | MarketScreener
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Technical analysis trends SOFTBANK GROUP CORP.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 5 917,00 JPY
Average target price 7 404,44 JPY
Spread / Average Target 25,1%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
Yutaka Matsuo Independent Outside Director
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