The value of SoftBank’s stake in Alibaba Group Holding Ltd also plunged about US$6.1bil in a single day following a tumble in the Chinese company’s shares on news that the White House is weighing limits on US portfolio flows into China
TOKYO: Many bond market participants still think billionaire Masayoshi Son’s SoftBank Group Corp is a relatively safe bet, but a bumpy few weeks for the corporate investor has prompted some to pine for a bit more caution.
The cost to insure the firm’s debt against nonpayment climbed the most in nearly a year last month after WeWork’s efforts to go public failed and Uber Technologies Inc’s valuation sagged.
The value of SoftBank’s stake in Alibaba Group Holding Ltd also plunged about US$6.1bil in a single day following a tumble in the Chinese company’s shares on news that the White House is weighing limits on US portfolio flows into China.
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