Japan's Topix tops 3,000 for first time as SoftBank surges 10%
The broad Topix gained as much as 1.5 per cent, as of 0110 GMT to a record 3,032.52.
The more tech-focused Nikkei share average rose 2 per cent to 41,875.96, its highest since July 25.
SoftBank Group rose nearly 11 per cent at its highest point, as the technology investor reported that it swung back to profit in the first quarter.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
42 minutes ago
- CNA
PM Lawrence Wong's 2025 National Day Message to Singaporeans
Prime Minister Lawrence Wong delivered the National Day Message ahead of Singapore's 60th National Day celebrations. In the televised broadcast on Friday (Aug 8), Mr Wong said Singapore is refreshing its economic strategy to strengthen its competitiveness and secure its future in a "very different world". "To stay ahead, Singapore must remain exceptional – in our cohesion, in our resolve, in our performance. We must move faster, adapt quicker and innovate smarter," he said.
CNA
42 minutes ago
- CNA
Nightlife businesses welcome extended liquor trading hours, say benefits could spill over to related sectors
SINGAPORE: Nightlife businesses have welcomed the upcoming extension of liquor trading hours in some areas along the Singapore River on Fridays and Saturdays, adding that the move is also expected to benefit other sectors like transport. In a bid to revitalise Singapore's nightlife scene, businesses can apply to extend their liquor trading hours by an hour to 4am on those two days. Mr Pravin Kumar, owner of Star Bagawan bar in Boat Quay, said he knew he was 'definitely going to do it' when he heard the news. 'I'd prefer if Wednesday was included in the extension as well,' he told CNA on Friday (Aug 8). 'The thing is that in Singapore, we have created a culture where Wednesday is 'Ladies Night'. It is one of the hot nights of the week, right in the middle of the week where people tend to let loose.' Nevertheless, the hour-long extension on Fridays and Saturdays will make 'a very big difference' for his business, as it received a late crowd - locals and tourists - who mostly come in after 10pm. 'I think we will sell slightly more, but I won't expect too much. The thing is, it's more than just the alcohol, it's about the customers having a good time,' he said. Another company that will apply for the extension is the Zouk Group, with its Asia-Pacific senior director of operations David Long noting that it will make the opening hours of its establishments in the area more uniform across the weekend and public holidays. 'Consistency is key. From a guest's perspective, it can be confusing when we're open until 4am on some nights but only until 3am on others,' he said. 'The change allows us to deliver a better guest experience and supports a steadier flow of business. The extended hours will provide a welcome boost not only to our venue but also to the surrounding businesses in the area.' Liquor trading hours at such licensed spots currently end at 3am on weekdays and Saturdays. It ends at 4am on Sundays and public holidays. Mr Bjorn Seegers, managing director of Muddy Murphy Holdings, which operates The Penny Black pub in Boat Quay, said 'we will look into the viability' before deciding whether to apply for the 4am extension. 'We don't see it making a big impact for our model, other than the potential ad-hoc sports event that may garner sufficient revenue to warrant a late opening,' he said, adding that the bar's core business is typically earlier in the evenings. It opens until late for some ad-hoc sports events like the Super Bowl, which typically happens in the wee hours for Singapore viewers. BENEFITS TO OTHER SECTORS Other sectors could also benefit from the hour-long extension, industry players told CNA. 'The Grab drivers and taxi drivers will 100 per cent get more customers, if not, how else will people get back home? Eateries nearby that open late will also get more business as people will be hungry,' said Mr Kumar. Mr Long said that the extension is 'a great initiative that reflects the government's willingness to collaborate with the nightlife and hospitality sectors'. 'Singapore's nightlife scene is constantly evolving and maintaining an open dialogue between business owners and operators and regulatory agencies is essential,' he said, adding that the Singapore Nightlife Business Association (SNBA) has been instrumental in fostering those conversations. Mr Zaran Vachha, co-owner of concert promoter Collective Minds Asia, said the recent announcement was a 'positive step', as there is 'a huge opportunity to host more shows'. Among the new measures announced on Thursday was the possibility of new bars, pubs and nightclubs being set up along the Boat Quay Waterfront, Circular Road, Lorong Telok and Canton Street. 'The extension will encourage the public to go out more and stay out later, which in turn allows venues to create new concepts and music promoters like us to put on more events,' he said. He noted that there is substantial demand for live events here, with a recent concert by English singer Fred Again drawing 10,000 people. 'To fully seize this opportunity, there is a need for more venues that can accommodate medium to large-scale music events and festivals,' said Mr Vachha. Minister of State for National Development and Trade and Industry Alvin Tan told reporters on Thursday that the latest changes are part of efforts to encourage more tourist attractions in Singapore. 'I've been speaking to SNBA, SRO (Singapore River One) to see how we can better partner them to make use of many of the big events, for example, MICE events (and) F1, to bring global tourists down to Boat Quay and to liven up the place,' he said. The Penny Black's Mr Seegers said, however, that he does not expect the trial to 'immediately' breathe new life into the area. 'If new and varied night club operators open shop over the course of the year, then the variance may help,' he said. 'Whilst it's a good first step, more can be done to holistically encourage people to stay out longer. An example could be later trains, night buses and shuttle services to hub drop-off points. I think if the trial proves to be well-managed and financially viable to all, then it has a fighting chance.' MAINTAINING SECURITY In 2018, a trial to allow alcohol sales until 4am on Saturdays was introduced in Clarke Quay. However, it ended after four months, after the police found that certain crimes involving public order had increased. Coordinating Minister for National Security K Shanmugam said on Thursday that the government will monitor the law-and-order situation in the area during the trial, and that business owners will be taking some direct responsibility as part of the measures. 'It's a balance. We open up more, we can expect some more incidents, and we want to make sure that it doesn't get out of hand, and they also have a responsibility to try ... so they will put in some security officers to do some controlling,' he said. Mr Kumar said that in his Star Bagawan bar, there is a system in place to de-escalate any fights or arguments that may occur among drunk customers. 'Whenever people drink, there will certainly be some tensions. Some people might go a bit crazy, and then engage in such behaviour,' he said. He told CNA that his establishment does not hire bouncers. Instead, all his staff are trained to handle such situations, and immediately intervene the moment they notice something going wrong. 'To me it's very simple, you come out to drink, you drink to enjoy, you don't drink to make your night worse,' said Mr Kumar. He added that as his patrons typically include foreign students, they also conduct stringent identity checks, such as looking out for fake identity cards, to make sure they are not underage. The Zouk Group's Mr Long said the company's recent data 'shows no spike in incidents on nights with a 4am licence', and that it is committed to maintaining that record. 'We will continue to maintain sufficient security, coordinate closely with Clarke Quay management and take a proactive approach to preventing issues before they happen,' he said. Ms Michelle Koh, executive director of Singapore River One, said on Thursday that government agencies are 'naturally' worried about security, so her organisation is stepping up measures such as hiring more security guards to conduct roving patrols. Singapore River One was created in 2012 as the place manager of the Singapore River precinct, encompassing Boat Quay, Clarke Quay and Robertson Quay. The additional measures will be funded through a combination of collecting some administrative fees from business operators, and also from Singapore River One's placemaking fees, said Ms Koh. Singapore Nightlife Business Association president Danny Loong said on Thursday that lessons from the upcoming trial will eventually be brought to other areas across Singapore. 'We are definitely looking at other precincts. Our members cut across all parts of Singapore, and we do hear their concerns,' he said. Mr Loong added that his association also takes in feedback from other related industries, as the night-time economy goes beyond just bars and restaurants, a perception which he wants to change.
CNA
42 minutes ago
- CNA
Singapore refreshing economic strategy to secure future in 'very different world': PM Wong in National Day Message
SINGAPORE: Singapore is refreshing its economic strategy to secure its future in a 'very different world' marked by greater contestation, fragmentation and volatility, said Prime Minister Lawrence Wong on Friday (Aug 8). To stay ahead, the country must remain "exceptional" in its cohesion, resolve and performance, as well as 'move faster, adapt quicker and innovate smarter', he said in his National Day Message that is broadcast every year on the eve of the nation's birthday. This means embracing new technologies such as artificial intelligence and robotics, while applying them meaningfully across its economy. 'We must enable our people, workers and businesses to make full use of these tools, and sharpen our competitive edge,' said Mr Wong, who is also Finance Minister. Amid disruption and the rapid pace of change, not everyone will find the transition easy, he added. To this, Mr Wong pledged that the government 'will walk this journey' with Singaporeans as it has done for the past six decades. 'We will expand opportunities for learning and skills upgrading, strengthen social safety nets, and help every Singaporean who faces setbacks to bounce back and press on,' he said. 'That is why I launched Forward Singapore – to refresh our social compact and give every Singaporean the support and confidence to travel the road ahead.' The government has also introduced new policies, like the SkillsFuture Jobseeker Support Scheme, to help those who lose their jobs get back on their feet. 'We will do more to uplift lower-income workers and families, and create more pathways for every Singaporean to succeed, regardless of their starting point in life,' said Mr Wong. Earlier this week, the government announced a fresh review of the country's economic strategy. Five committees, which report to the Singapore Economic Resilience Taskforce headed by Deputy Prime Minister Gan Kim Yong, have been formed to develop longer-term strategies in areas such as sharpening the country's global competitiveness and ability to tap on new technologies. The committees are expected to publish a report outlining their recommendations by mid-2026. FORK IN THE ROAD In his message which was recorded at the Padang, Mr Wong spoke about how Singapore now stands at a "fork in the road". "To put it bluntly, the global order that enabled Singapore to thrive for decades is unraveling before our eyes," said the prime minister, reiterating that the country must now navigate a more contested, fragmented and volatile world. Thus far, Singapore's economy remains resilient but the outlook ahead continues to be ' highly uncertain ', said Mr Wong. 'We expect the global economy to remain troubled for some time. Businesses everywhere are holding back on expansion and new investments,' he said. Apart from tackling immediate headwinds, Singapore will also have to look ahead by anticipating what is on the horizon and preparing to ride the next wave of change, he added. Mr Wong noted that other countries armed with more resources and larger populations 'are not standing still'. The bigger powers are also 'now more willing to use every tool at their disposal – economic, technological and geopolitical – to tilt the playing field in their favour', making it harder for small states like Singapore to hold its own. 'Difficult times lie ahead but we are not going to throw up our hands in despair. We will overcome our new challenges,' said the prime minister. He added that Singaporeans have made a 'considered and clear choice' in the recent General Election. Said Mr Wong: 'You chose the team you believe can best steer Singapore through this turbulence. Your wisdom and trust give my government the political assurance to act boldly, and the confidence to lead with conviction, and that is exactly what we are doing.' The People's Action Party (PAP) had won 87 out of 97 seats – or almost 90 per cent of the seats – in the May 3 polls, staving off challenges from the opposition without conceding any new ground to its rivals. The polls marked Prime Minister Lawrence Wong's first electoral test leading the ruling party. In leading the PAP to an increased vote share, Mr Wong bucked a trend: Previous elections in 1991 and 2006 saw dips in the PAP's vote share after a new prime minister took office. THE SINGAPORE SPIRIT Recalling Singapore's independence in 1965 – one that was forced by circumstances and required the country to summon its resolve and will to survive, Mr Wong said: 'At many points, history could have easily taken a darker turn. Yet against all odds, we made it. 'This is what makes SG60 so significant – not just that we endured, but that we prevailed and prospered when few believed we would even survive.' Through challenges ranging from racial strife to the pullout of British forces, economic crises to global pandemics, Singapore and Singaporeans 'picked ourselves up, learnt from our setbacks, and found the strength and will to carry on'. At the heart lies the 'Singapore spirit', which represents a deep sense of solidarity and shared purpose, he said. 'As a small nation, we cannot afford to be divided. Our unity has always been our source of strength. When we stand together, there is nothing we cannot overcome,' said Mr Wong. The prime minister noted that Singapore has gone from a third-world to a first-world nation in 60 years 'not through luck, but through sheer determination, resilience and unity'. As the country stands on the threshold of a new chapter, it must draw strength from its past and press forward with confidence. 'Together, we will secure a brighter future for ourselves, our children, and generations to come,' he said.
