SoftBank sinks 10% as Asia tech stocks tumble, tracking Wall Street losses
Asian semiconductor and technology stocks fell on Wednesday, tracking overnight losses on Wall Street.
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SoftBank briefly became Japan’s most valuable company. The last time that happened was February 2000.
SoftBank knocked Toyota off its perch as Japan’s most valuable company last week, after a stock rally inflated the conglomerate’s market capitalisation by more than $120 billion in six months. Three days later, Toyota reclaimed the top spot.