Good afternoon and welcome to Markets Desk.
SoftBank shares took a hard ten percent hit in Tokyo trading, dragged down by a broader tech sell-off that spilled over from overnight weakness on Wall Street. The move reflects wider profit-taking across the technology sector, and with SoftBank so heavily exposed to growth names through its Vision Fund, it tends to amplify whatever direction tech is moving.
Turning to the grain pits, corn futures gave back early session gains and moved into the red by midday, dropping five to six and a half cents across front months. The CmdtyView national cash price slid to three dollars ninety-eight and a quarter. A private export sale of one hundred thirty-six thousand metric tons to South Korea for two thousand twenty-six to twenty-seven delivery offered some support, but not enough to hold the market green.
And on the geopolitical front, Indian equities opened marginally lower Thursday as investors weighed continued tensions between the United States and Iran, which are keeping oil prices elevated. Elevated energy costs feed directly into inflation expectations for an import-dependent economy like India's, and that pressure is keeping buyers cautious in early trade.
That's the tape. Markets Desk, signing off the floor.
