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Japanese Shares Rise Ahead of Nvidia Results; Oil Falls

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Japanese stocks extended gains as chip stocks advanced ahead of Nvidia's results, with investors remaining optimistic about the future of artificial intelligence investment.

The benchmark Nikkei 225 closed up 405.73 points, or 0.62%, at 66,262.16.

Oil prices eased amid reports of positive US-Iran backchannel talks and Iran's announcement of talks with Oman to reopen the Strait of Hormuz, easing Middle East tensions and raising hopes of restoring energy supply through the key sea route.

On the corporate side, SoftBank (TYO:9434) is in talks with investment banks over a potential $10 billion to $20 billion bond offering to refinance a loan tied to its investment in US-based OpenAI, according to a Wednesday report.

Also, S&P Global Ratings assigned an A- long-term issue credit rating to Japan-based NEC's (TYO:6701) U.S. dollar senior unsecured bonds, according to a Wednesday release.

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ASX:AMP
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Sandfire Resources Completes Near-Mine Exploration at Prospects Near Spain Mines; Shares Reach All-Time Peak

Sandfire Resources (ASX:SFR) said it completed 46 near-mine exploration drill holes at Masa 2 West and Masa Olivo prospects at the Magdalena mine in Spain for 27,972 meters, as well as four drill holes at the La Juliana prospect near the Aguas Teñidas mine in Spain for 2,596 meters, according to a Wednesday Australian bourse filing.It hit intercepts of 14.4 meters at 0.4% grade of copper, 15% grade of zinc, 4.4% grade of lead, 0.6 grams per tonne (g/t) grade of gold, and 158.1 g/t grade of silver from 307 meters, 5.5 meters at 3.1% grade of copper, 0.1% grade of zinc, 0.1% grade of lead, 0.9 g/t grade of gold, and 7.2 g/t grade of silver from 524 meters, as well as 8.6 meters 1.3% grade of copper, 0.1% grade of zinc, 0.1% grade of lead, 1.3 g/t grade of gold, and 5.8 g/t grade of silver from 556.2 meters, per the filing.The company said it also completed seven near-mine exploration drill holes at A1 for about 2,045 meters and three drill holes at A4 West for 2,296 meters.The mining company's shares rose 7% in recent trading on Wednesday and earlier reached their all-time peak.

ASX:SFR
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Lakala Payment Terminates Plans For Hong Kong IPO

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