You are using an older browser version. Please use a supported version for the best MSN experience.

Asia trades mixed; SoftBank shares tumble 10%, while Nintendo jumps again

CNBC logo CNBC 19-07-2016 Saheli Roy Choudhury

Asian markets were mixed in early trade on Tuesday, with shares of internet and telecommunication giant, SoftBank, tumbling some 10 percent as the Japanese market re-opened after being closed for a public holiday on Monday. 

Japan's benchmark Nikkei 225 (.N225) traded up 0.36 percent, with stocks receiving a boost from a relatively weaker yen.

SoftBank (9984.T-JP) shares, however, were down 10.94 percent as investors reacted to the company's Monday announcement that it had agreed to acquire British semiconductor firm ARM Holdings in a deal worth $32 billion.

SoftBank's chairman and chief executive, Masayoshi Son, said the decision to acquire ARM was not motivated by a weaker pound, after the British currency fell in the aftermath of the UK's decision to leave the European Union.

Instead, Son said, it was about taking advantage of the "paradigm shift" seen in the internet of things technology.

Across the Korean Strait, the Kospi (.KS11) dropped 0.43 percent.

Australian shares were mixed, with the ASX 200 (.AXJO) index trading flat at 5,458.80. The materials sub-index was under pressure, dropping 0.53 percent as miners remain in focus this week for their second quarter production reports.

Major Australian miner Rio Tinto (RIO-AU) released its second quarter production results before market open, showing that iron ore shipments from the Pilbara were up 6 percent on-year, according to a Reuters report. Aluminum production rose 11 percent and copper production was up 5 percent.

© Provided by CNBC

For full year 2016, Rio Tinto said it expected to ship around 330 million tonnes of iron ore from the Pilbara, according to Reuters, compared to

Shares of Rio Tinto were up 0.3 percent. Other miners were mixed, with Fortescue (FMG-AU) up 0.49 percent and BHP Billiton (BLT-GB) dropping 0.99 percent.

In Japan, Nintendo (7974.T-JP) shares continued to climb, trading up some 9.5 percent to reach session high of 31,390 yen per share. The consumer electronics company has seen a sharp spike in its stock prices since the release of the wildly popular "Pokemon Go" game on July 6.

In the currency market, the dollar (=USD) traded at 96.583 against a basket of currencies, up from levels near 96.00 in the previous week. Experts attributed the strength in the dollar to the "overall strength in U.S. stocks."

The Japanese yen (OSEJPY=) weakened further against the greenback, with the currency pair trading at 106.16, compared to levels near 105 on Monday afternoon and near 100 two weeks earlier.

The Australian dollar (AUD=) traded at $0.7538, coming off from levels near $0.76 reached Monday afternoon Asia time.

Stateside, the Dow Jones industrial average (.DJI) closed at a record high of 18,533.05, up 0.09 percent. The S&P 500 index (.SPX) also closed at a new record of 2,166.89, up roughly a quarter of a percent. The Nasdaq (.IXIC) composite ended 0.52 percent higher for its highest close of the year at 5,055.78.

— Follow CNBC International on Twitter and Facebook.

More from CNBC

image beaconimage beaconimage beacon