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    Why did Alibaba shares fall more than 9% today? China fines e-commerce giant

    • Alibaba (NYSE:BABA) started the week off on a rough note, as its shares fell more than 9% Monday in the wake of the Chinese e-commerce giant being fined by regulators in Beijing for improperly reporting details of some of its past acquisitions.
    • Over the weekend, China’s State Administration for Market Regulation hit Alibaba (BABA) subsidiaries with a fine equivalent to $373,000 that was related to failing to file reports on five deals. The Chinese regulators also slapped Tencent Holdings (OTCPK:TCEHY) with a fine, a move which sent that company’s shares down almost 4% on the day.
    • Alibaba (BABA) shares ended the day at $109.63, and have fallen almost 8% this year.
    • Along with Alibaba (BABA), losses also came from JD.com (NASDAQ:JD), down almost 4%; Baidu (NASDAQ:BIDU), which fell 5.7%; Weibo (WB), down more than 10% and NetEase (NTES), which gave up almost 5% on the day.
    • Last week, several Chinese tech stocks got a lift on reports that Beijing was set to launch a $220B stimulus package to improve China’s infrastructure and support the country’s economy.

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