December 05, 2024 at 01:43 am EST
(MT Newswires) -- Japanese shares gained on easing regional tensions as South Korea's parliament initiated steps to impeach President Yoon Suk Yeol over a failed martial law bid.
The Nikkei 225 advanced 0.25%, adding 96.54 points to close at 39,372.93.
South Korea's opposition-led parliament tabled the impeachment motion on Thursday but requires support from at least eight ruling People Power Party lawmakers for passage.
The proposal follows widespread backlash over Yoon's martial law declaration, which sparked public outrage and strained ties with allies. Yoon accepted Defense Minister Kim Yong-hyun's resignation as criticism mounted. A vote on the motion is expected within 72 hours.
On the corporate front, Starzen Co. (TYO:8043) will acquire all shares of Yorkrange, the owner of Australia-based cattle business Broad Water Downs, for 5.94 billion yen, making it a subsidiary. The move supports Starzen's strategy to expand Australian Wagyu beef production.
The management of Seven & i Holdings (TYO:3382) planned $60 billion buyout of the company includes a potential IPO of its North American convenience stores to raise over 1 trillion yen for loan repayment, Bloomberg News reported. The Ito family aims to counter Alimentation Couche-Tard's 7.1 trillion yen bid with this strategy.
Rakuten Group (TYO:4755) issued a $550 million junk-rated bond in the US at 8.125%, its lowest cost in three years, reflecting investor confidence in its recovery efforts despite losing investment-grade status in 2021.
Sumber : MT Newswires
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