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Home / Business / SoftBank's stock has its worst week of almost three months – the Asian market last

SoftBank's stock has its worst week of almost three months – the Asian market last



The stock is down 1.5% Friday morning, setting SoftBank on pace for its fourth straight loss day. Bloomberg reported early Friday, citing anonymous sources, that the Japanese technology company plans to write down at least $ 5 billion to the Vision Fund to reflect the declining valuation of holdings such as WeWork and Uber. SoftBank did not immediately respond to a CNN Business request for comment.
Earlier this week, SoftBank announced a massive rescue of WeWork.

SoftBank is down almost 7% this week. It's the worst week for the stock since its first full week in August, when it dropped nearly 1

0%.

Meanwhile, Asian markets opened mostly lower Friday.

Japan's Nikkei ( N225 ) was up 0.1% in early trade, but declined slightly to trade down 0.1%. South Korea's Kospi ( KOSPI ) fell about 0.1%, but got some left to trade flat. Hong Kong's Hang Seng ( HSI ) fell by 0.5%. China's Shanghai Composite ( COMP ) drops 0.6%.
American stock futures were mixed during Asian trading hours. Dow ( INDU ) was more than 0.1% down, while S&P 500 ( SPX ) was almost flat. Nasdaq ( COMP ) was a bit up.

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