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SoftBank sheds $15 billion in market capitalisation on US tech stock rout

Chief Executive Masayoshi Son said last month SoftBank would place cash from an asset sale programme in public stocks

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SoftBank | Tech stocks

Reuters  |  TOKYO 

By Sam Nussey TOKYO (Reuters) - SoftBank Group Corp <9984.T> shares were down 5% in afternoon trade on Wednesday, extending this week's slump that has wiped $15 billion from its market capitalisation, as investors worried about the conglomerate's exposure to sliding U.S. tech stocks. The fall takes SoftBank's share decline to 12% since sources told Reuters and other media late last week that the Japanese company made big bets on equity derivatives tied to tech firms. Chief Executive Masayoshi Son said last month SoftBank would place cash from an asset sale ...

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First Published: Wed, September 09 2020. 11:10 IST
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