Asia-Pacific markets were mixed in afternoon trade, following overnight gains on Wall Street.
Japan’s Nikkei 225 added more than 1.64%, while the Topix rose 0.86%. South Korea’s Kospi advanced 3.24%, while the small-cap Kosdaq fell 0.07%. Australia’s benchmark S&P/ASX 200 fell 0.09%. Hong Kong’s Hang Seng index fell 1.19%, while the mainland’s CSI 300 rose 1.12%.
Shares of AeroVironment rose 19% in after-hours Monday after the defense company reported adjusted fiscal fourth-quarter earnings of $1.84 per share on revenue of $642 million. That beat the $1.46 in earnings per share and $559 million in revenue that analysts were looking for, according to LSEG.
Rakuten shares rose more than 5% amid reports it will receive 150 billion Japanese yen in government subsidies, SEEBiz reports.
The grants will help a consortium led by the Japanese e-commerce giant to develop a local satellite communications network in low Earth orbit, the Nikkei reported. The funding would also help support the ground facilities, systems and equipment needed to launch and control such satellites, the report added.
According to Nikkei, a formal decision from Japan’s Ministry of Internal Affairs and Communications is expected soon.
Shares of Samsung Electro-Mechanics rose more than 9% after it announced a 450 billion Korean won ($290.67 million) supply deal with an undisclosed global technology major.
The contract will include multilayer ceramic capacitors for artificial intelligence and will last for one year, from January to December 2027.
