SoftBank's Saudi ties unnerve investors as shares drop 8 percent
Updated : October 15, 2018 11:30 AM IST
The oil-rich kingdom has found itself threatened with "severe punishment" by US President Donald Trump over the disappearance this month of Jamal Khashoggi, a journalist critical of Saudi authorities.
Concern over the disappearance has seen a growing number of attendees pull out of the "Davos in the Desert" investment conference, which has become the biggest show for investors to promote Saudi Crown Prince Mohammed bin Salman's reform vision.
SoftBank stock was down almost 8 percent in early afternoon trade. With further investor concerns including a Sino-US trade dispute and possible slowdown in China's economy, the benchmark Nikkei share price index was down 1.7 percent.
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