SoftBank indicates $1.3 billion loss

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Japan’s SoftBank Group Corp on Monday reported a 131.7 billion yen ($1.27 billion) loss from speculation on technology stocks after an attempt to diversify using its massive cash pile backfired.

Chief Executive Masayoshi Son in August said the firm would park excess cash from asset monetisation in tech stocks and derivatives in at attempt to capitalise on an uplift in valuations in the sector.


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