SoftBank confronts renewed China risk as Didi backfires

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

20210729N SoftBank Son

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

TAIZO WADA, Nikkei staff writer

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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