TOKYO — Shares in the mobile unit of Japanese technology giant SoftBank resumed steep declines Thursday on their second trading day after a bruising debut saw stocks close 14.5 percent lower. In early exchanges, shares in SoftBank Corp were down 7.6 percent at 1,183 yen as heavy selling dominated at the opening bell. That was 22 percent below the IPO price. The benchmark Japanese market, the Nikkei 225, also opened down nearly one percent as traders fretted over the pace of Federal Reserve rate hikes next year. The SoftBank parent company itself has said the listing would give the mobile unit "greater managerial autonomy to develop its own growth strategy".

Source: Philippine Star December 20, 2018 00:33 UTC