What's Going On With Alibaba Stock Thursday
Portfolio Pulse from Anusuya Lahiri
Alibaba Group Holding Limited (BABA), Baidu, Inc (BIDU), JD.Com, Inc (JD), and Chinese ETFs including IShares China Large-Cap ETF (FXI) and KraneShares Trust KraneShares CSI China Internet ETF (KWEB) are trading lower due to concerns about the lack of significant policy stimulus in China and the potential need for more tightening to contain inflation. This follows a government report showing that manufacturing in mainland China contracted for a third month in June. The stocks were also affected by reports of the U.S. intensifying its AI chip embargo on China.
June 29, 2023 | 2:20 pm
News sentiment analysis
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NEGATIVE IMPACT
Alibaba's stock is trading lower due to concerns about China's economic policy and the U.S. AI chip embargo.
The stock is directly affected by the economic conditions in China and the U.S. AI chip embargo.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Baidu's stock is trading lower due to concerns about China's economic policy and the U.S. AI chip embargo.
The stock is directly affected by the economic conditions in China and the U.S. AI chip embargo.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
IShares China Large-Cap ETF is trading lower due to concerns about China's economic policy.
The ETF is directly affected by the economic conditions in China.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
JD.Com's stock is trading lower due to concerns about China's economic policy and the U.S. AI chip embargo.
The stock is directly affected by the economic conditions in China and the U.S. AI chip embargo.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
KraneShares Trust KraneShares CSI China Internet ETF is trading lower due to concerns about China's economic policy.
The ETF is directly affected by the economic conditions in China.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100