What's Going On With Alibaba Stock Thursday?
Portfolio Pulse from Anusuya Lahiri
Alibaba and other Chinese stocks are trading lower due to signs of a slowdown in mainland China. A selloff in Chinese banks deepened after Goldman Sachs downgraded top Chinese lenders. The Yuan weakened to a seven-month low. Chinese stocks, including Alibaba, Baidu, JD.Com, and Bilibili were down between 1%-3%. Chinese ETFs, including IShares MSCI China ETF and IShares China Large-Cap ETF, were trading lower by 2%.
July 06, 2023 | 12:51 pm
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NEGATIVE IMPACT
Alibaba's stock is trading lower due to signs of a slowdown in mainland China and a selloff in Chinese banks.
The economic slowdown in China and the selloff in Chinese banks are negatively affecting Alibaba's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Baidu's stock is trading lower due to signs of a slowdown in mainland China and a selloff in Chinese banks.
The economic slowdown in China and the selloff in Chinese banks are negatively affecting Baidu's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Bilibili's stock is trading lower due to signs of a slowdown in mainland China and a selloff in Chinese banks.
The economic slowdown in China and the selloff in Chinese banks are negatively affecting Bilibili's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
IShares China Large-Cap ETF is trading lower due to signs of a slowdown in mainland China and a selloff in Chinese banks.
The economic slowdown in China and the selloff in Chinese banks are negatively affecting the price of IShares China Large-Cap ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
JD.Com's stock is trading lower due to signs of a slowdown in mainland China and a selloff in Chinese banks.
The economic slowdown in China and the selloff in Chinese banks are negatively affecting JD.Com's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
IShares MSCI China ETF is trading lower due to signs of a slowdown in mainland China and a selloff in Chinese banks.
The economic slowdown in China and the selloff in Chinese banks are negatively affecting the price of IShares MSCI China ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100