SoftBank shares continue to fall after WeWork bailout

SoftBank shares continue to fall after WeWork bailout
WeWork via CNN

SoftBank shares continued to slide Thursday after the company announced its massive WeWork bailout.

Shares were down another 2.8% in Tokyo, extending earlier losses. The stock closed down 2.5% Wednesday.

SoftBank will pump $5 billion into The We Company and accelerate a $1.5 billion equity investment originally due to the company next year. SoftBank, already WeWork’s largest investor, is also offering to buy up to $3 billion worth of stock from existing investors and shareholders. The Japanese tech company will take ownership of about 80% of WeWork.

Asian stocks were otherwise mixed Thursday, with shares in South Korea edging lower after the country reported weak economic growth.

Japan’s Nikkei 225 rose 0.6%, while Hong Kong’s Hang Seng Index increased 0.5%. But China’s Shanghai Composite Index slipped 0.3% in a choppy session.

South Korea’s Kospi also swung between gains and losses. It dipped as much as 0.6%, but then reversed losses and edged up 0.2%.

The South Korean economy