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    9988   KYG017191142

ALIBABA GROUP HOLDING LIMITED

(9988)
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End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 09/17
154.9 HKD   +2.24%
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09/17Analysis-Investors brace for a great fall in China
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Alibaba : Sell-off in China shares extends rout in U.S.-listed shares

07/27/2021 | 06:11pm EDT
An investor sits in front of a board showing stock information at a brokerage office in Beijing

NEW YORK (Reuters) - A sell-off in Chinese shares overnight in Asia extended the rout in U.S. markets on Tuesday, with a gap in volatility indexes signaling further weakness ahead, as tighter government regulations in China led investors to dump holdings.

The iShares China Large-Cap ETF , which tracks an index of large Chinese companies that trade on the Hong Kong Stock Exchange, slid 3.3% and the Invesco Golden Dragon China ETF, which mimics a Nasdaq index of the same name, fell 5.4%. The two ETFs closed at lows last seen in June 2020.

Among well-known Chinese multinationals, e-commerce oriented Alibaba Group Holdings Ltd fell 3.0% and internet services company Baidu Inc lost 2.8%.

The dive could get deeper as the gap between the Cboe China ETF Volatility Index and the Cboe Volatility Index - the so-called Wall Street "fear gauge" - grew to a record high 30 points.

Past instances when the two volatility gauges have diverged widely have heralded further weakness for Chinese stocks, according to Chris Murphy, co-head of derivative strategy at Susquehanna International Group.

What started off as a sell-off in equities bled into fixed income and foreign exchange markets earlier in Asia, sending the yuan falling through psychologically significant levels and pushing Chinese 10-year government bond futures down 0.35%, as traders scrambled to come to terms with the rout.

The rout came after a shakeout on Monday spurred by new rules reining in China's $120 billion private tutoring sector, sending some shares plunging more than 45%, and new regulatory moves targeting technology and property.

Adding to broader concerns about the economic outlook, profit growth at China's industrial firms slowed for a fourth straight month in June, as high raw material prices weighed on factories' margins.

(Reporting by Herbert Lash; Editing by David Gregorio)


© Reuters 2021
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Analyst Recommendations on ALIBABA GROUP HOLDING LIMITED
More recommendations
Financials
Sales 2022 924 B 143 B 143 B
Net income 2022 136 B 21 055 M 21 055 M
Net cash 2022 451 B 69 794 M 69 794 M
P/E ratio 2022 21,7x
Yield 2022 -
Capitalization 2 805 B 434 B 434 B
EV / Sales 2022 2,55x
EV / Sales 2023 2,03x
Nbr of Employees 254 702
Free-Float 73,6%
Chart ALIBABA GROUP HOLDING LIMITED
Duration : Period :
Alibaba Group Holding Limited Technical Analysis Chart | 9988 | KYG017191142 | MarketScreener
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 46
Last Close Price 1 034,80 CNY
Average target price 1 748,41 CNY
Spread / Average Target 69,0%
EPS Revisions
Managers and Directors
Yong Zhang Executive Chairman & Chief Executive Officer
John Michael Evans President & Director
Wei Wu CFO, Director & Head-Strategic Investments
Li Cheng Chief Technology Officer
Chee Hwa Tung Independent Director
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