China tech stocks are on sale — one key level to watch if you’re considering buying

Regulatory crackdowns have torpedoed the China tech trade. Alibaba, Baidu, JD.com and Pinduoduo, some of the country’s largest tech companies, have collectively lost more than $500 billion in market cap since their February peaks as new anti-monopoly and data security rules in China threaten to weigh on profits. With Alibaba, Baidu and JD.com trading at… Continue reading China tech stocks are on sale — one key level to watch if you’re considering buying

Billionaire Alibaba founder Jack Ma spending his time on philanthropy and hobbies like painting

Alibaba founder Jack Ma is still lying low, focusing his efforts on hobbies and philanthropy, according to a company executive. “He’s lying low right now, I talk to him every day,” Joe Tsai, Alibaba’s executive vice chairman said in an interview on CNBC’s “Squawk Box.” “He’s actually doing very, very well. He’s taken up painting… Continue reading Billionaire Alibaba founder Jack Ma spending his time on philanthropy and hobbies like painting

Alibaba calls out woman who reported to his wife that he’s “openly flirting” with other women on social media; she responds

A woman has responded after comedian Alibaba called her out and blocked her for reporting him to his wife. The woman had left a comment on Alibaba’s wife’s Instagram account. The Instagram user told Alibaba’s wife, Mary Akpobome: “The way Alibaba jokes and frolics with women on his page, will he allow you flirt and frolic… Continue reading Alibaba calls out woman who reported to his wife that he’s “openly flirting” with other women on social media; she responds

Alibaba posts first operating loss as a public company following $2.8 billion antitrust fine

China — Alibaba posted its first operating loss as a public company in its fiscal fourth quarter as a massive antitrust fine it received last month weighed on its earnings, while revenue beat expectations. Here’s how Alibaba did versus Refinitiv estimates: Revenue: 187.39 billion ($28.6 billion) vs. 180.41 billion yuan estimated, up 64% year-over-year. Earnings… Continue reading Alibaba posts first operating loss as a public company following $2.8 billion antitrust fine

Alibaba shares rise 2% after Beijing orders Ant Group to revamp business

China — Alibaba shares in Hong Kong jumped nearly 4% at the open on Tuesday after regulators ordered the e-commerce giant’s financial technology affiliate Ant Group to revamp its business. That, along with a 18.23 billion yuan ($2.78 billion) fine Alibaba received as a result of an anti-monopoly investigation by regulators, removed a source of… Continue reading Alibaba shares rise 2% after Beijing orders Ant Group to revamp business

Alibaba, Tencent are still China’s ‘benchmark’ techs — even as Beijing ramps up pressure, says investor

Alibaba, on the other hand, saw its Hong Kong-listed shares drop more than 5% in the same period.In this article Alibaba and Tencent remain China’s top technology stocks — even as Beijing continues to ramp up regulatory pressure on its big internet firms, says Jackson Wong of Amber Hill Capital. “At this point, I can’t… Continue reading Alibaba, Tencent are still China’s ‘benchmark’ techs — even as Beijing ramps up pressure, says investor

Alibaba’s cloud computing division becomes profitable for the first time as earnings beat forecasts

GUANGZHOU, China — Alibaba reported profitability for its cloud computing business for the first time in a continued push to diversify its business beyond e-commerce as it faces regulatory scrutiny in China. The Chinese tech giant reported adjusted EBITA (earnings before interest, taxes, and amortization) of 24 million yuan ($3 million) for its cloud business… Continue reading Alibaba’s cloud computing division becomes profitable for the first time as earnings beat forecasts

Alibaba shares fall after reports of anti-monopoly probe by China

Shares of Alibaba fell as reports surfaced that the Chinese government is conducting an anti-monopoly probe into the tech giant.China’s State Administration for Market Regulation said through official online channels Thursday it has opened an investigation into Alibaba over monopolistic practices.The news comes on the heels of an increasing — and largely unexpected — push… Continue reading Alibaba shares fall after reports of anti-monopoly probe by China

Alibaba, Xiaomi to join Hong Kong’s Hang Seng Index

E-commerce conglomerate Alibaba (9988.HK) (BABA.N), handset maker Xiaomi (1810.HK) and WuXi Biologics (2269.HK) will enter the Hang Seng .HSI next month, broadening Hong Kong’s traditionally financial services-dominated index. The change announced by the Hang Seng Indexes Company on Friday was made possible after the 50-year-old benchmark’s publisher changed the rules on shareholder structure and secondary… Continue reading Alibaba, Xiaomi to join Hong Kong’s Hang Seng Index

Don’t chase Chinese stocks at these levels, traders warn as Alibaba hits all-time high

Chinese stocks charged higher this week. As of Thursday, the Shanghai Composite was up nearly 9.5% week to date while the Shenzhen Composite was up over 10.5%, adding to a recovery rally in China’s stock market that has been building since late March. The recent gains have largely been due to improving economic conditions in China. But some attributed… Continue reading Don’t chase Chinese stocks at these levels, traders warn as Alibaba hits all-time high