TOKYO (Reuters) - Shares of SoftBank Corp (>> Softbank Corp) were down more than 2 percent in early trade on Monday following the listing on Friday of Alibaba Group Holding Ltd (>> Alibaba Group Holding Ltd), in which the Japanese telecommunications company holds a 32 percent stake.

Over the past six weeks, SoftBank had surged 30 percent in anticipation of the Chinese e-commerce company's listing, compared with a 9 percent rise in Tokyo's benchmark Nikkei average <.N225>.

As of 0013 GMT (0813 EDT) on Monday, the stock was down 2.7 percent at 8,506 yen.

SoftBank said over the weekend that it expected a gain of about 500 billion yen ($4.6 billion) from Alibaba's share listing in New York, where Alibaba surged 38 percent on its first day of trade.

(Reporting by Chris Gallagher; Editing by Edmund Klamann)

Stocks treated in this article : Softbank Corp, Alibaba Group Holding Ltd