SoftBank Group, the Tokyo-based investment group, fell 10.6% to 7,434 yen (US$46) after a US tech sell-off spread to Asia and sparked profit-taking across tech and AI-linked stocks.

SoftBank’s shares fell despite gaining about 70% year to date and recently surpassing Toyota Motor as Japan’s most valuable company.

Investors appeared concerned about the risks associated with the company’s aggressive investments in AI.

Analysts said SoftBank’s rerating was largely driven by Arm’s share surge, a weaker yen, and improving AI sentiment.

SoftBank’s about 90% stake in Arm was valued at US$158 billion in July 2024, above SoftBank Group’s own market value at the time.

In South Korea, Samsung Electronics and SK Hynix fell 1.25% and 2.75%, respectively, amid profit-taking.

🔗 Source: CNBC

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