To The Moon

This is good news for palantir. The dip is arguably due to the broader market dip. 

About time for value stocks to shine. In the meantime, on could always use the dip to stock up on good growth stocks. 

If anything, this recent move by the Chinese regulators does provide some parameters as to the sort of drastic measures that they are willing to undertake to protect China's interest. Any prudent investor will have to factor this in mind for any subsequent purchase of Chinese stocks. 

Would you guys rather buy BABA or 9988?

This is probably a temporary dip. Nevertheless it serves as a reminder to manage expectations in respect of any overly optimistic target that self driving cars will be rolled out on a mass scale anytime soon , and correspondingly, any skyhigh valuations arising from the same.

While the fine signifies an end to the current investigations by the Chinese authorities, it doesn't preclude that similar investigations may occur if and when the Chinese authorities deem fit to do so. Nevertheless, if you believe in the fundamentals of Alibaba's core business in e-commerce and the growth prospects of its cloud computing segment, the threat of future investigations should not put you off. 

Rather muted opening as compared to the US counter BABA

Is this still ongoing? Thought should have ended by now 

What causes the rally?

At the end of the day, it depends on ones conviction and analysis as to whether you believe the companies in the fund has good fundamentals. There are bound to be market corrections (plural) within a calendar year .