Asian markets mixed; SoftBank's mobile unit tumbles 10 percent on trading debut [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
Asian stocks were mixed on Wednesday, with the widely watched SoftBank Corp tumbling on its trading debut in Japan . Shares of SoftBank Corp, the mobile unit of Japanese conglomerate SoftBank Group , started trading on the Tokyo Stock Exchange 6.4 percent lower than its initial public offering price of 1,500 yen ($13.36). Shares of the company were trading lower by 10.8 percent in the late afternoon, after falling as much as 12 percent earlier. It's the most heavily-traded stock in Tokyo. SoftBank Corp's 2.65 trillion yen ($23.6 billion) IPO is the largest ever in Japan and the second-largest in the world behind Alibaba's $25 billion IPO in 2014. I'm not a 100 percent surprised that it's down this much. If they'd been able to hold above that 1,500-level (IPO price), it could have been a different story, said Andrew Jackson, head of Japanese equities at SooChow CSSD Capital Markets Asia. Once it dipped below it, a lot of these retail investors, first-time inves
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