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Softbank's plans cause Alibaba stocks to fall


Alibaba shares in Hong Kong fell 4% after announcing that SoftBank plans to sell most of its stake in the company due to a downturn in its technology investments. The sale will reduce SoftBank's stake in Alibaba Group to 3.8%. At the same time, the Hang Seng index fell by almost 1%. SoftBank has sold $7.2 billion in Alibaba shares this year, ahead of a record $29 billion sell-off in 2022. Alibaba's valuation has fallen since Chinese regulators' crusade against the country's internet giants, but SoftBank has still significantly increased its initial investment in the company. However, investors have re-invested in Alibaba shares on signs of easing regulatory scrutiny in China and optimism about the recovery of the Chinese economy. SoftBank is planning a stock listing for British chipmaker Arm, which is one of the few holdings still generating income for the Japanese company.

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Forex Award | World Forex Award | Forex
Forex Award | World Forex Award | Forex
Forex Award | World Forex Award | Forex
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