SoftBank Group Corp. shares surged more than 12% on Monday. This jump spearheaded a broad rally across Asian technology and semiconductor stocks.
Investors reacted to a landmark peace agreement between the U.S. and Iran. The deal aims to de-escalate Middle East tensions and prompted a market-wide shift into growth-oriented assets.
SoftBank emerged as a primary beneficiary of the regional risk-on approach. Other major technology firms throughout Asia also recorded notable gains following the announcement.