SoftBank shares rise 5% on news of trimming Alibaba stake

Reuters

Published Aug 11, 2022 08:19PM ET

Updated Aug 11, 2022 08:35PM ET

TOKYO (Reuters) -Shares in SoftBank Group Corp rose 5% in morning trading in Tokyo on Friday after the Japanese conglomerate said it would book a $34.1 billion gain by trimming its stake in Alibaba (NYSE:BABA) Group Holding.