Stock market today: Live updates

Shares of Japanese investment group Softbank Group Corp climbed more than 4% on Tuesday as the company’s Vision Fund posted its first annual gain in 3 years.

Softbank recorded a gain of 724.3 billion Japanese yen ($4.6 billion) on its Vision Fund in the fiscal year ended March.

But for the full year, Softbank posted an overall loss of 227.6 billion yen), lower than the previous fiscal year’s loss of 970.1 billion yen.

Revenue rose 2.8 percent year-on-year to 6.76 trillion yen, compared to 6.57 trillion yen in the same period last year.

The company also announced a total dividend of 44 yen per share for the full year and expects the same level of dividends for its 2024 fiscal year.

—Lim Hui Jie, Arjun Kharpal

Bank of Japan data showed corporate inflation was stable in April from a year earlier, but import prices jumped last month.

In April, import prices increased by 6.4% year-on-year amid a weak yen. This is the largest increase in import prices since March 2023.

Japan’s Consumer Goods Price Index (CGPI), or producer prices, rose 0.9% year-on-year last month, the same as in March. This figure is slightly higher than a Reuters poll forecast for an increase of 0.8%.

The CGPI is a measure of the prices that businesses charge each other for their goods and services.

-Shreyashi Sanyal

India’s consumer price index rose 4.83% year-on-year in April, down slightly from 4.85% in March and slowing for the fourth consecutive month.

While this is the slowest inflation rate since June 2023, the figure is slightly higher than the 4.8% expected by economists polled by Reuters.

India’s Ministry of Statistics said inflation in rural areas rose more sharply, to 5.43 percent, while the urban inflation rate stood at 4.11 percent.

The ministry also added that inflation slowed in the clothing and footwear, housing and fuel sectors compared to the previous month.

-Lim Hui Jie

Utilities, best known for their regular dividend payments, are experiencing a resurgence in popularity, thanks to the enthusiasm generated by artificial intelligence.

Consider that the SPDR Utilities Select Sector Fund (XLU) is up 6.8% in May alone, outperforming the SPDR Technology Select Sector Fund (XLK), which is up 5.2% this month .

Here’s how the utility AI game plays out: AI data centers are going to require a significant amount of electricity — and even as tech companies shift to renewable energy sources, natural gas will play a key role in meeting these energy needs.

See here a list of dividend-paying utilities that could benefit from enthusiasm for AI, according to Wells Fargo.

–Darla Mercado

Shares of meme stock favorites GameStop and AMC soared in extended trading Monday, following sharp moves earlier in the day spurred by the re-emergence of “Roaring Kitty.”

GameStop stock soared more than 7%, while AMC climbed nearly 15%. Trading at the brick-and-mortar video game retailer was halted several times on Monday due to increased volatility.

—Brian Evans

Games Global Limited is postponing its IPO scheduled for May 14, the company announced Monday.

The online casino games provider said concerns over market conditions were behind the decision. Games Global plans to issue 14.5 million shares at a price of $16 to $19 per share.

—Brian Evans