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SoftBank confronts renewed China risk as Didi backfires

Beijing's crackdown on US-listed tech stocks spells trouble in vital market

SoftBank Group CEO Masayoshi Son. The Japanese conglomerate's fortunes are tied to those of some of China's biggest tech companies.   © Reuters

TOKYO -- China's salvos of regulation aimed at its tech industry have caught SoftBank Group in the crossfire, deflating the value of stocks in its Vision Fund in a trend that raises questions for its investment strategy.

U.S.-listed Chinese tech stocks are among the most visible benchmarks for billionaire SoftBank founder and CEO Masayoshi Son's stock-picking prowess. Their performance over the past few weeks shows the same grim trajectory.

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