Japan's SoftBank shares slide after $23b buyback scheme not extended

Japan's SoftBank shares slide after $23b buyback scheme not extended

FILE PHOTO: SoftBank Corp Representative Director and CTO Junichi Miyakawa speaks during their joint news conference with Toyota Motor Corp Executive Vice President Shigeki Tomoyama (not pictured) in Tokyo, Japan October 4, 2018. REUTERS/Issei Kato

SoftBank Group Corp shares tumbled 8% in morning trade on Thursday after the conglomerate did not extend its buyback programme, removing support for the stock as concern over frothy portfolio valuations outweighed record earnings.

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