Sumitomo Shares Jump Most Since 2020 on Elliott’s Reported Stake
Sumitomo Corp. shares surged by the most since August 2020 after activist investor Elliott Management Corp. was said to have built a “large” stake in the Japanese trading house.
Sumitomo Corp. shares surged by the most since August 2020 after activist investor Elliott Management Corp. was said to have built a “large” stake in the Japanese trading house.
Australian retail sales surprisingly fell in March as households faced the prospect of higher borrowing costs for longer. The currency declined.
Creditors of distressed Korean builder Taeyoung Engineering & Construction Co. are poised to decide Tuesday on whether to allow the firm to begin restructuring its debt, after it rattled local markets at the start of the year.
China’s factory activity expanded for a second month, the best streak in more than a year, bolstering hopes that the rebound in the world’s second-biggest economy can be sustained.
Asian stocks advanced Tuesday, with the latest data from China underscoring the recovery in the world’s second-biggest economy. Japanese equities climbed as the market reopened after a volatile yen session.
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