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Honda Shares Surge Over 17% on $7 Billion Buyback, Best Day in 16 Years Amid Nissan Merger Talks
Dec 24, 2024, 02:20 AM
Honda's shares surged by over 17% on December 24, 2024, marking the company's best performance in more than 16 years. This increase followed the announcement of a substantial share buyback plan, in which Honda intends to repurchase up to $7 billion in shares by December 2025. The surge in Honda's stock comes amid ongoing discussions regarding a merger with Nissan, whose shares fell by 7% as concerns about the merger ratio emerged. The overall Asian stock markets are poised for modest gains, supported by a rally in U.S. tech stocks, particularly Tesla and NVIDIA, which boosted the S&P 500 and NASDAQ 100 despite weaker economic indicators. The Nikkei index experienced a decline in thin holiday trading, reflecting cautious sentiment among investors.
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