What's Going On With Alibaba Stock Tuesday?
Portfolio Pulse from Anusuya Lahiri
Alibaba Group Holding Limited (BABA) and JD.com Inc (JD) stocks are trading lower as China releases data showing a weak economy and deepening property-sector issues. China's central bank cut the interest rate on its one-year medium-term lending facility (MLF) loans to 2.5%, injecting additional liquidity. However, fear of contagion risks in the property and finance sectors diluted the impact of the rate cut. Scion Asset Management exited its stakes in Alibaba and JD.com in Q2. Chinese ETFs, including IShares China Large-Cap ETF (FXI) and KraneShares Trust KraneShares CSI China Internet ETF (KWEB), are also trading lower.
August 15, 2023 | 12:27 pm
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NEGATIVE IMPACT
Alibaba's stock is trading lower due to China's weak economy and property-sector issues.
The weak economic data from China and the exit of Scion Asset Management from Alibaba are likely to negatively impact Alibaba's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
IShares China Large-Cap ETF (FXI) is trading lower following the release of weak macro data from China.
The weak economic data from China is likely to negatively impact the IShares China Large-Cap ETF (FXI) in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
JD.com's stock is trading lower due to China's weak economy and property-sector issues.
The weak economic data from China and the exit of Scion Asset Management from JD.com are likely to negatively impact JD.com's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
KraneShares Trust KraneShares CSI China Internet ETF (KWEB) is trading lower following the release of weak macro data from China.
The weak economic data from China is likely to negatively impact the KraneShares Trust KraneShares CSI China Internet ETF (KWEB) in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100