SoftBank post new record high as investors celebrate

SoftBank Group Corp reached new heights with its shares skyrocketing on Tuesday as investors celebrated the recovery in the value of the firm’s tech portfolio.

SoftBank shares edged up 4% at 10,420 yen, posting their highest in 30 years. The Nikkei 225 index component bested its previous record of 10,111 yen recorded in February 2000.

 The soar of shares in SoftBank was due to the support of the growing number of portfolio companies listing in ebullient markets. It also underscored the support coming from retail investors buying its shares and baseball-themed junk bonds, as well as buybacks.

The Japanese firm’s increasing share price has moved up its market cap over $200 billion, in marked contrast to a year earlier when it fell behind Sony Corp to third place in the index.