Alibaba's HK shares slump after posting first operating loss as public company

Reuters2021-05-14

** Hong Kong shares of China's top e-commerce platform Alibaba Group Holding Ltd fall as much as 6.1% to HK$200.20, their lowest since June 2, 2020

** Stock on course for its worst session since Dec. 28, 2020; the most actively traded by turnover

** Stock biggest percentage decliner in the benchmark Hang Seng Index and third-biggest decliner in the Hang Seng Tech Index

** Alibaba on Thursday posted its first quarterly operating loss since going public in 2014 due to a record anti-monopoly fine by the country's market regulator, and the outlook was overshadowed by a regulatory crackdown in China

** Co's Hong Kong shares had plunged 25.9% from this year's high of HK$270 on Jan. 20 to a low of HK$200.20 this morning

** The Hong Kong Hang Seng sub-index tracking information technology firms falls 1.5%, and the Hang Seng Tech Index drops 1.3%

** The Hang Seng China enterprises index slips 0.1%, while the benchmark index gains 0.6%

** As of last close, Alibaba's Hong Kong-listed shares had fallen 8.3% this year

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • cc21
    2021-05-14
    cc21
    This is really unexpected
    • ET2021: 
      yup. well there is always d first time. rainbow after d rain
  • Silverlitz
    2021-05-14
    Silverlitz
    It was a strong performance by Baba. Losses arebecause of the fine. This is a buying opportunity.
    • Eded: 
      JusT above 200 psychological level . Once broken, can see another 10 to 20 Dollars drop
  • Jasonlok
    2021-05-14
    Jasonlok
    Like and comment please 
  • MKSoh
    2021-05-14
    MKSoh
    China ban the ceo
  • rawr
    2021-05-14
    rawr
    Please like and comment
Leave a comment
5