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Alibaba's HK shares fall as regulator strengthens delivery workers protection

Reuters2021-07-27

** Hong Kong shares of Alibaba Group Holding Ltd fall 4.3% to HK$183.80, their lowest since April 3, 2020, and are on course for a third straight session of declines

** Stock is the third most actively traded by turnover and the fourth biggest percentage decliner on the benchmark Hang Seng Index

** Food delivery platforms in China are being pushed to guarantee their workers with income above minimum pay, insurance and a relaxation in delivery deadlines, under a set of reforms announced on Monday by China's market regulator

** Food delivery platforms in China, including Meituan and Alibaba's Ele.me, have attracted severe criticism on social media for their treatment of delivery workers, most of whom are not covered by basic social and medical insurance

** Hong Kong shares of Meituan fall 6.6% to HK$220, their lowest since Aug. 17, 2020; the third biggest percentage decliner in the Hang Seng Index

** The Hong Kong Hang Seng consumer goods and services index rises 1.5%, while the Hang Seng Tech Index falls 1.3%

** The Hang Seng China Enterprises Index eases 0.2% and the benchmark index climbs 0.2%

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Comment11

  • RoaringPuppy
    ·2021-07-27
    Wow
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    • RoaringPuppy
      Lower but not lowest
      2021-07-27
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  • lsn_9812
    ·2021-07-27
    Buy buy buy
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  • Guoshen
    ·2021-07-27
    Buy buybuy
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  • Simon2021
    ·2021-07-27
    Buy a bit
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  • gcchan90
    ·2021-07-27
    Buy the dip. Ridiculously cheap
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    • lsn_9812
      Absolutely
      2021-07-27
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  • Vickytham
    ·2021-07-27
    Buy or wait 
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    • gcchan90
      just buy
      2021-07-27
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  • robot1234
    ·2021-07-27
    Current price HKD185 is a far cry from 52-week high of HKD309 seen late last year. PE ratio is now at a much more attractive level of 22X. Worth considering for long term retail investors as company's prospect is still very good
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    • MrTig3r
      can ask them to drop somemore please?
      2021-07-27
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    • Jo5tarz
      hodl
      2021-07-27
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    • Ivanhojh
      Yup Am still holding on
      2021-07-27
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  • BBBSIN
    ·2021-07-27
    Cheong aha
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    • mokkie
      Chiong
      2021-07-27
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    • BBBSIN
      Cheong
      2021-07-27
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  • 1Man2Stonks
    ·2021-07-27
    Go go go you can do it
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  • Troedas
    ·2021-07-27
    Please do it once and for all. #@&#@*
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  • Peter133
    ·2021-07-27
    Buy the dip. It will go back up eventually.
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    • Troedas
      Yea..buy buy buy
      2021-07-27
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    • BeRich
      up
      2021-07-27
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