On June 22, Alibaba fell 3.25% overnight, trading at $103.45/share, with turnover of $16.54 million. The decline was primarily driven by the Federal Reserve's hawkish stance that continued to weigh heavily on technology stocks.
On the news front, the Fed held rates steady but issued clear hawkish signals, with the dot plot indicating that half of policymakers expect rate hikes this year, and six members projecting at least two increases. This has become the primary catalyst for sustained pressure on the tech sector. The Hang Seng Index had previously fallen below 24,000 points, with the Hang Seng Tech Index weakening consecutively and Alibaba's Hong Kong-listed shares declining over 3% on the same day.
On the capital flow side, southbound funds have been aggressively selling Alibaba in recent sessions, with a single-day net outflow of HK$2.085 billion and cumulative disposals exceeding 53 million shares over the prior five trading days. Within the Broadline Retail sector, the broader weakness was evident, with Amazon.com down 1.15%, PDD Holdings down 1.63%, MercadoLibre down 0.23%, eBay down 0.22%, and Coupang down 0.22%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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