Tokyo's Key Nikkei Index Closes Lower
Umer Jamshaid Published November 10, 2023 | 12:00 PM
Tokyo, (APP - UrduPoint / Pakistan Point News - 10th Nov, 2023) Tokyo's key Nikkei 225 index closed lower Friday as the market was weighed down by SoftBank Group, which posted a net loss of $9.25 billion for the first half.
The benchmark Nikkei 225 index fell 0.24 percent, or 78.35 points, to end at 32,567.11, while the broader Topix index edged up 0.07 percent, or 1.60 points, to 2,336.72.
SoftBank Group tanked 8.16 percent to 5,790 Yen after the investment giant reported 1.4 trillion yen net loss for the April-September period on Thursday, as its bets on start-ups continue to struggle.
The company also had to account in anticipation for the bankruptcy of WeWork, an office-space start-up that had left expensive lessons for SoftBank founder Masayoshi Son who invested heavily in the firm.
Sony Group dropped 2.03 percent to 12,970 yen after its operating profit plunged 29.7 percent.