Nikkei slips from 3-decade high on profit-taking, SoftBank drag

nikkei slips from 3 decade high on profit taking softbank drag

Sumary of Nikkei slips from 3-decade high on profit-taking, SoftBank drag:

  • By Reuters Staff2 Min ReadTOKYO, Sept 15 (Reuters) – Japanese shares on Wednesday retreated from three-decade peaks hit in the previous session, as investors took profits after a strong rally over the last two weeks and Chinese regulatory concerns dragged SoftBank Group and property shares.
  • While Kono seems to be viewed as a reformist, it is not entirely clear what kind of economic policies he will adopt,” said Naoya Oshikubo, senior economist at Sumitomo Mitsui Trust Asset Management.
  • SoftBank Group lost 5.8%, weighed by concerns about its exposure to Alibaba and other Chinese tech firms, as Beijing steps up regulation in the sector.
  • Some analysts attributed the weakness to a spillover from troubles in Chinese real estate shares.

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