Movement Alert｜Alibaba Intraday Decline 3.14% in Regular Trading, Slower online retail GMV growth weighs on sentiment

Market Focus10-22 21:34

On October 22, Alibaba fell 3.14% in Regular Trading, trading at $101.67 per share with turnover of $185 million.

The move came as sentiment toward Chinese internet stocks weakened after recent research indicated that September national online retail merchandise GMV growth slowed sharply, pressuring expectations for Alibaba's near-term e-commerce performance.

Recent market reports indicated that September national online retail merchandise GMV was expected to rise only 0.1% year over year, down from 2.2% in August. Third-quarter online GMV and parcel volume growth forecasts were also reduced to about 2% and 3%, respectively, below prior expectations. Alibaba's Hong Kong-listed shares also fell below HK$100 during the day, while broader Chinese ADRs and Hong Kong technology shares were broadly lower, reinforcing the negative read-through for the stock.

(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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