What's Going On With Alibaba Stock Thursday?
Portfolio Pulse from Anusuya Lahiri
Alibaba Group Holding Limited (BABA) and KraneShares Trust KraneShares CSI China Internet ETF (KWEB) stocks are trading lower amid reports of China's President Xi Jinping calling for accelerated efforts in core technologies. The U.S. plans to increase semiconductor tech sanctions on China, which could impact China's tech industry. China is planning a $40 billion state fund to boost the chip industry.
October 12, 2023 | 4:58 pm
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NEGATIVE IMPACT
Alibaba's stock is trading lower due to China's President's call for tech advancements and potential U.S. sanctions on China's semiconductor tech.
The news of China's President calling for tech advancements and potential U.S. sanctions on China's semiconductor tech could negatively impact Alibaba's business and thus its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
KraneShares Trust KraneShares CSI China Internet ETF (KWEB) is trading lower due to China's President's call for tech advancements and potential U.S. sanctions on China's semiconductor tech.
The news of China's President calling for tech advancements and potential U.S. sanctions on China's semiconductor tech could negatively impact the Chinese tech industry and thus the ETF's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100