SoftBank Group experienced a decline of up to 10% on Wednesday following the announcement of its complete divestment from U.S. chipmaker Nvidia for $5.83 billion. This move reflects the Japanese conglomerate’s strategy to leverage its significant investment in OpenAI, the creator of ChatGPT. SoftBank’s shares ended the trading session down by 3.46%, closing at 21,910. In its earnings report, SoftBank disclosed the sale of 32.1 million shares of Nvidia in October, alongside a reduction in its T-Mobile stake, resulting in a capital increase of $9.17 billion.

On Wednesday, Asia-Pacific markets exhibited a predominantly upward trend, following a mixed performance on Wall Street. This shift was fueled by optimism regarding a potential resolution to the unprecedented U.S. government shutdown, alongside challenges faced in the AI sector. Japan’s benchmark index, the Nikkei 225, experienced an increase of 0.43%, concluding the trading session at 51,063.31. Meanwhile, the Topix saw a rise of 1.14%, finishing the day at 3,359.33. South Korea’s Kospi experienced an increase of 1.07%, concluding at 4,150.39, whereas the small-cap Kosdaq surged by 2.52%, reaching 906.51. Australia’s S&P/ASX 200 experienced a decline of 0.22%, settling at 8,799.5.

The Hang Seng Index in Hong Kong experienced an increase of 0.81%, whereas the mainland’s CSI 300 saw a decline of 0.13%, settling at 4,645.91. India’s Nifty 50 experienced an increase of 0.83%. On Wednesday, shares of Billionbrains Garage Ventures, the parent company of Indian online brokerage Groww, experienced a notable increase of 20% during their market debut. The firm successfully raised 66.3 billion rupees in its IPO, equivalent to approximately $748 million. Taiwan’s Taiex experienced a modest increase of 0.58%, reaching a level of 27,947.09. Foxconn, the world’s largest contract electronics maker and Nvidia supplier, reported on Wednesday that its third-quarter profit increased by 17% compared to the previous year, propelled by expansion in its artificial intelligence server sector.

In the U.S. overnight, the three major averages exhibited a mixed performance at the close. The Dow Jones Industrial Average achieved a new closing record on Tuesday, whereas the Nasdaq Composite faced challenges as investors redirected capital from technology stocks to other sectors of the market that offered more attractive valuations. The 30-stock Dow increased by 559.33 points, representing a gain of 1.18%, concluding at 47,927.96. Investors on Wall Street engaged in purchasing shares of several prominent blue-chip companies, notably in the health care sector, such as Merck, Amgen, and Johnson & Johnson. The S&P 500 experienced an increase of 0.21%, concluding the session at 6,846.61. Nonetheless, the tech-heavy Nasdaq experienced a decline of 0.25%, concluding at 23,468.30.