SoftBank Shares Plunge 10.6% to 7,434 Yen as Tech Profit-Taking Hits Asia
Updated
Updated · CNBC · Jun 4
SoftBank Shares Plunge 10.6% to 7,434 Yen as Tech Profit-Taking Hits Asia
1 articles · Updated · CNBC · Jun 4
Summary
SoftBank dropped 10.6% to 7,434 yen after an overnight U.S. sell-off spilled into Asian tech stocks, pulling down one of Japan’s biggest AI-linked winners.
A roughly 70% year-to-date rally and investor unease over SoftBank’s high-risk AI bets left the stock exposed as traders took profits across the sector.
Samsung fell 1.25% and SK Hynix lost 2.75%, showing the retreat extended beyond Japan even after both South Korean chipmakers topped $1 trillion in market value in May.
SoftBank also sold a 3.25% Lenskart stake for about 28.73 billion rupees on Wednesday, while Masayoshi Son argued any correction would still be a long-term AI buying opportunity.