What's Going On With Alibaba Stock Tuesday?
Portfolio Pulse from Anusuya Lahiri
Alibaba's stock is trading lower, in line with the broader indexes iShares China Large-Cap ETF and KraneShares Trust KraneShares CSI China Internet ETF, amid reports of China's services activity growing at the slowest pace in eight months. Alibaba's cloud division is exploring private fundraising from Chinese state-owned enterprises before its public listing in Hong Kong. The company is also working on a potential Cloud Intelligence Unit fundraising worth $1.4 billion - $2.8 billion. Alibaba plans to spin off the unit by distributing a stock dividend to shareholders within 12 months.
September 05, 2023 | 11:53 am
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NEGATIVE IMPACT
Alibaba's stock is trading lower amid reports of slow growth in China's services activity and the company's plans for private fundraising and a potential spin-off of its cloud division.
The slow growth in China's services activity and the company's plans for private fundraising and a potential spin-off of its cloud division are likely to have a negative impact on Alibaba's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
iShares China Large-Cap ETF is trading lower in line with Alibaba and the broader market amid reports of slow growth in China's services activity.
The slow growth in China's services activity is likely to have a negative impact on iShares China Large-Cap ETF in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
KraneShares Trust KraneShares CSI China Internet ETF is trading lower in line with Alibaba and the broader market amid reports of slow growth in China's services activity.
The slow growth in China's services activity is likely to have a negative impact on KraneShares Trust KraneShares CSI China Internet ETF in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50