(AF) SoftBank’s tech-supporting VisionFund has taken a $4 billion hit on its Didi Chuxing investment since a Beijing crackdown on the ride-hailing firm almost halved its market value, according to the Financial Times.
The Japanese fund’s $11.8bn backing of the app has fallen to $7.8bn since China insisted Didi remove its app from users’ devices pending a cybersecurity probe, the report said. With more than a quarter of its investments exposed to Chinese tech firms, the report said the Vision Fund is vulnerable to China’s “shifting regulatory winds”. Full Story: Financial Times