Stock Market News
SoftBank shares fall 5% after annual loss
2023.05.11 22:59
© Reuters. FILE PHOTO: SoftBank Corp’s logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-Hoon/File Photo
TOKYO (Reuters) -SoftBank Group Corp’s shares tumbled 5% in early trade on Friday after the Japanese technology investor reported an annual loss as the value of its portfolio slid.
SoftBank reported a net loss of 970 billion yen ($7.18 billion) after a sell-down of its stake in Chinese e-commerce giant Alibaba (NYSE:) Group Holding Ltd helped cushion investment loss at its Vision Fund unit.
($1 = 135.0500 yen)
