Alibaba, Tumble in US as Xi Asserts Full Control in China

The KraneShares CSI China Internet Fund, an exchange traded fund, slid 13%. Major Chinese internet stocks from Alibaba Group Holding Ltd. To JD.cOm Inc. Saw double-digit declines. Investors worry the ruling party may stick to its hard-liner approach toward domestic private enterprises and tech entrepreneurs.
#KraneSharesCSIChinaInternetFund #Chinese #China #News #Business #Markets

1 months ago

Alibaba: Alibaba revenue growth stagnates for the first time as a result of China's lockdowns

Alibaba Group Holding Ltd. Reported flat quarterly revenue growth for the first time in its history. Company's performance was better than expected, and its shares were 4.3 percent higher in early US trading. CEO said the company saw signs of a business recovery in July, but emphasized that the following months would be a period of cost-cutting and efficiency.
#AlibabaGroupHoldingLtd #China #BusinessIndustrial #News #BusinessNews

3 months ago

Ant: Billionaire Jack Ma plans to cede control of China's Ant Group, claims report

Ma only owns a 10 percent stake in Ant, an affiliate of Alibaba Group Holding Ltd., he exercises control over the company through related entities. Ant's IPO, which would have been the world's largest, was derailed days after Ma's public criticism of regulators in a speech in October 2020.
#JackMa #Ant #China #BusinessIndustrial #News #BusinessNews

4 months ago