What's Going On With Alibaba Stock Thursday?
Portfolio Pulse from Anusuya Lahiri
Alibaba's stock is trading lower, in line with broader indexes iShares China Large-Cap ETF and KraneShares Trust KraneShares CSI China Internet ETF. This is due to China's manufacturing activity contracting for a fifth straight month, putting pressure on the government to support economic growth. The US government has also broadened its crackdown on the exports of AI chips developed by Nvidia Corp and Advanced Micro Devices Inc to regions beyond China.
August 31, 2023 | 12:10 pm
News sentiment analysis
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NEGATIVE IMPACT
The US government has broadened its crackdown on the exports of AI chips developed by Advanced Micro Devices Inc to regions beyond China.
The US government's crackdown on the exports of AI chips is likely to negatively impact Advanced Micro Devices Inc in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Alibaba's stock is trading lower due to China's contracting manufacturing activity and US crackdown on AI chip exports.
The contraction in China's manufacturing activity and the US crackdown on AI chip exports 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 is trading lower due to China's contracting manufacturing activity.
The contraction in China's manufacturing activity is likely to negatively impact iShares China Large-Cap ETF in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
KraneShares Trust KraneShares CSI China Internet ETF is trading lower due to China's contracting manufacturing activity.
The contraction in China's manufacturing activity is likely to negatively impact KraneShares Trust KraneShares CSI China Internet ETF in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The US government has broadened its crackdown on the exports of AI chips developed by Nvidia Corp to regions beyond China.
The US government's crackdown on the exports of AI chips is likely to negatively impact Nvidia Corp in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70