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.