Japan's Nikkei slides from 2-month highs; SoftBank drags – Yahoo Finance

TOKYO, Nov 14 (Reuters) – Japan's Nikkei index closed lower on Monday from a two-month high scaled in the previous session, as investors booked profits and market heavyweight SoftBank Group tumbled after its Vision Fund investment arm reported another big quarterly loss.
The Nikkei share average ended 1.06% lower at 27,963.47, while the broader Topix fell 1.05% to 1,956.90.
The benchmark index closed 3% higher on Friday, while the S&P 500 and Nasdaq also extended their rallies on hopes of a less aggressive rate-hike stance by the Federal Reserve due to a soft inflation reading.
SoftBank Group tanked 12.73% in its biggest daily decline in more than two and a half years after the technology start-up investor posted a heavy loss at its Vision Fund investment arm for a third consecutive quarter.
"The outlook for IT companies is dim amid a slowing global economy. Expectations for SoftBank Group's growth have been shrinking as there is a concern that the value of its portfolio companies may not grow in this environment," said Shigetoshi Kamada, general manager at the research department of Tachibana Securities.
SoftBank Group was the biggest drag on the Nikkei, followed by Olympus, which dropped 10.81% after the medical equipment maker cut its annual operating profit forecast.
Dowa Holdings lost 14.21% to its daily limit low become the biggest loser on the Nikkei after the non-ferrous metal maker flagged a decline in profit.
Bucking the trend, Toto gained 6.03% to become the top gainer on the Nikkei, while cosmetics maker Shiseido jumped 5.23%. (Reporting by Junko Fujita; Editing by Subhranshu Sahu and Uttaresh.V)
Related Quotes
SoftBank Group shares are down sharply Monday following a selloff in Tokyo trading after the tech investment firm’s earnings report on Friday. The company lost more than $10 billion in the quarter combined in its venture funds, which includes the flagship Vision Fund, the less seasoned Vision Fund 2 and a smaller Latin American portfolio. Launched in 2017, the original Vision Fund has year-to-date losses of $14 billion, including $9.1 billion in holdings of public shares, and $4.9 billion in write-downs of prepublic shares.
Restore plc ( LON:RST ), is not the largest company out there, but it saw a double-digit share price rise of over 10…
(Bloomberg) — The financing for a green-hydrogen plant in Neom in Saudi Arabia — set to be one of the world’s largest — may be completed in the coming months, according to ACWA Power Co.Most Read from BloombergChina Plans Property Rescue in Latest Surprise Policy ShiftFTX Latest: Binance CEO Plans Recovery Fund, Laments Bad ActorsBiden Meets Xi as Asia Allies Look to Lower TemperatureFall of the World’s Hottest Stock Cost Sea Founders $32 BillionUS Futures Pare Drop as Yields Keep Traders War
Tampa Bay Buccaneers’ linebacker Carl Nassib launched a charity-focused app, Rayze, which has scored its first venture capital funding. The investment comes from Financial Finesse Ventures, a new VC fund from the Liz Davidson-led firm that works with the NFLPA on athlete financial education. Rayze is a for-profit company, with high ideals. “It’s is a […]
Softbank Group Corp's (OTC: SFTBF) (OTC: SFTBY) shares plunged as much as 12% Monday in its most significant intraday drop since the outbreak of the pandemic in early 2020, following a lack of widely-expected stock buyback, Bloomberg reports. The Vision Fund segment posted a $7.2 billion loss in the July-September quarter, following a record 2.33 trillion yen ($17 billion) loss in the preceding period. The sliding startup valuations forced the biggest technology investor into defensive mode and
SoftBank Group Corp. shares fell sharply Monday morning after the Japanese technology investment company posted disappointing second-quarter results and failed to announce additional share buybacks.
James Shellow was a local legend and formidable defense attorney who represented everyone from Father James Groppi to mob boss Frank Balistrieri.
The approach of year-end typically sees high demand to place or obtain cash as financial institutions seek to bolster their balance sheets, rebalance portfolios and transfer funds to close the year off. But this year, with U.S. gauges of market volatility back at levels seen at the height of the COVID-19 pandemic and an uncertain economic outlook, it is harder than normal for banks to take risk on their balance sheets. Money markets too suggest securing cash and quality assets investors need to make a smooth transition into 2023 will be expensive.
Shares in SoftBank Group Corp. slid nearly 13% Monday after the company signaled an end to a stream of stock buybacks that have buoyed the stock. [At its quarterly earnings](https://www.wsj.com/articles/softbank-swings-to-profit-after-selling-alibaba-shares-11668149319) announcement after markets closed Friday, SoftBank didn’t announce a new buyback plan, despite the hopes from some analysts and investors that it would. The company said Thursday that it had completed a previously announced $2.9
(Bloomberg) — Most Read from BloombergChina Plans Property Rescue in Latest Surprise Policy ShiftFTX Latest: Binance CEO Plans Recovery Fund, Laments Bad ActorsBiden, Xi Chart Path to Warmer Ties With Blinken China VisitBig Tech Weighs on US Stocks After Fed Caution: Markets WrapFall of the World’s Hottest Stock Cost Sea Founders $32 BillionAbu Dhabi will likely host three more IPOs this year and at least 11 in 2023, an official said, continuing a trend that’s made the Middle East a bright spot
In late October, the company took on an offer from Alludo at A$2.00 per share, which it said was an 11% premium to tech-focused private equity firm Potentia's offer of A$1.80 per share. Nitro in a statement said it has asked its shareholders to back the North-America based Alludo scheme and accept it, on the condition that no new superior offer prevails. The company expects to hold a shareholders meet related to the Alludo offer in March 2023.
(Bloomberg) — Australian Prime Minister Anthony Albanese and Chinese President Xi Jinping will meet in-person on the sidelines of the Group of 20 summit on Tuesday, the first such talks between leaders of the two countries since 2019 that’s likely to touch on trade.Most Read from BloombergChina Plans Property Rescue in Latest Surprise Policy ShiftBiden, Xi Chart Path to Warmer Ties With Blinken China VisitFTX Latest: Binance CEO Plans Recovery Fund, Laments Bad ActorsFall of the World’s Hottest
Alibaba revealed that this year's GMV results "stayed in line" with last year's performance "despite macro challenges and COVID-19-related impact." JD.com said sales "surpassed industry growth rate" and "set new records."
North Dakota's soybean industry is at the forefront of what could be a once-in-a-generation transformation in coming years, with two new processing plants set to open in 2023 and 2024 to meet rising domestic biofuel production. U.S. soybean crush capacity may swell by as much as 30% over the next four years, with more than a dozen planned new facilities or expansions that are part of a nationwide wave of investment in processing the main U.S. export crop, largely to supply vegetable oil to renewable diesel makers. The surge would upend traditional trade flows as exports of whole soybeans to markets like China give way to more domestic demand and greater overseas shipments of soymeal, a product that China typically does not import.
Indonesia's trade surplus is seen narrowing slightly in October to $4.5 billion, amid weakening in global trade and moderating commodity prices, a Reuters poll showed on Monday. Exports from Southeast Asia's biggest economy have been buoyed since last year by high commodity prices, but prices of some key commodities like palm oil have been declining in the past few months. Export growth was seen at 13.85% annually in October, slower than September's 20.28%, while imports were seen up 23.62% on a yearly basis, versus 22.02% in September.
(Bloomberg) — SoftBank Group Corp. shares plunged as much as 12% Monday in its biggest intraday drop since the outbreak of the pandemic in early 2020, after the company failed to announce a widely-expected stock buyback.Most Read from BloombergFTX’s Balance Sheet Was BadChina Plans Property Rescue in Latest Surprise Policy ShiftBiden, Xi Chart Path to Warmer Ties With Blinken China VisitMusk Publicly Punishes Twitter Engineers Who Call Him Out OnlineUS Stocks, Bonds Drop as Fed Signals Further
Slovakian battery maker InoBat said on Monday it has signed declarations of intent with the Serbian government to build an electric vehicle (EV) battery factory in the Balkan country with a capacity of up to 32 gigawatt hours (GWh). The Serbian government has agreed to provide funding of up to 419 million euros ($431 million) including grants and tax incentives to support the project, InoBat said. Last month InoBat said it had signed a declaration of intent with Spain's government to build a gigafactory in Valladolid.
Get a great golf gift without spending an arm and a leg. Check out Golfweek's list of best golf gifts under $50.
Berkshire Hathaway's quarterly 13F filing, running down its latest portfolio moves, didn't disappoint.
Sam Bankman-Fried used an old trick to make more money on his crypto exchange FTX, according to the Wall Street Journal.


Leave a Reply

Your email address will not be published.