isn't Alibaba an open sesame s

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2023-05-19

isn't Alibaba an open sesame stock?

Alibaba Results Weigh on Hong Kong Stocks, With Baidu, Tencent and Meituan Pressuring Index Further

Hong Kong stocks fell after Alibaba’s underwhelming revenue growth for the quarter disappointed inve

Alibaba Results Weigh on Hong Kong Stocks, With Baidu, Tencent and Meituan Pressuring Index Further

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The Tech Index declined 2 per cent, while the Shanghai Composite Index lost 0.6 per cent.</p><p>Alibaba Group Holding plunged 5.1 per cent to HK$83.25, Baidu retreated 3.2 per cent to HK$121.60 and Tencent Holdings dropped 1.8 per cent to HK$331.40. Meituan lost 3.2 per cent to HK$129.20, while carmaker BYD fell 1.3 per cent to HK$240.60.</p><p>Alibaba reported a 2 per cent increase in fourth-quarter revenue at 208.2 billion yuan (US$30.3 billion), missing analysts’ estimates of 209.2 billion yuan. The company also approved a full spin-off of its business units, starting with Cloud Intelligence Group, which is set to be publicly listed within the coming year, chairman and CEO Daniel Zhang Yong said.</p><p>“Alibaba’s financial result does not offer too much surprise as it broadly reflects China’s reopening [losing traction],” said Gary Ng, a senior economist at Natixis in Hong Kong. “It is at the core of the market concerns right now.”</p><p>Whether Alibaba can restructure successfully and finally list its units, will be important for market sentiment in China’s tech sector, he added.</p><p>Goldman Sachs said in a report on Friday that while China’s fiscal revenue growth accelerated in April, issues including rising government debt levels and falling return on capital will restrain the government’s ability to roll out more pro-growth measures through fiscal policies.</p><p>Three companies began trading in China. In Shanghai, semiconductor manufacturer Skyverse Technology surged 180 per cent to 66 yuan, while medical-equipment maker Hangzhou AGS MedTech fell 7 per cent to 116 yuan. Telecommunications service provider Shijihengtong Technology added 63 per cent to 43 yuan in Shenzhen.</p><p>Major Asian markets trader higher. Japan’s Nikkei 225 climbed 0.8 per cent, Australia’s S&amp;P/ASX 200 added 0.4 per cent, while South Korea’s Kospi rose 0.6 per cent.</p></body></html>","source":"lsy1600132093512","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba Results Weigh on Hong Kong Stocks, With Baidu, Tencent and Meituan Pressuring Index Further</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba Results Weigh on Hong Kong Stocks, With Baidu, Tencent and Meituan Pressuring Index Further\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-19 10:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.scmp.com/business/banking-finance/article/3221077/alibaba-results-weigh-hong-kong-stocks-baidu-tencent-and-meituan-pressuring-index-further?module=live&pgtype=homepage><strong>South China Morning Post</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hong Kong stocks fell after Alibaba’s underwhelming revenue growth for the quarter disappointed investors, adding to concerns of China’s post-Covid recovery losing momentum.The Hang Seng Index slumped...</p>\n\n<a href=\"https://www.scmp.com/business/banking-finance/article/3221077/alibaba-results-weigh-hong-kong-stocks-baidu-tencent-and-meituan-pressuring-index-further?module=live&pgtype=homepage\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09888":"百度集团-SW","00700":"腾讯控股","09988":"阿里巴巴-W"},"source_url":"https://www.scmp.com/business/banking-finance/article/3221077/alibaba-results-weigh-hong-kong-stocks-baidu-tencent-and-meituan-pressuring-index-further?module=live&pgtype=homepage","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167855365","content_text":"Hong Kong stocks fell after Alibaba’s underwhelming revenue growth for the quarter disappointed investors, adding to concerns of China’s post-Covid recovery losing momentum.The Hang Seng Index slumped 1.5 per cent to 19,439.91 as of 9.56am local time, on course for a second straight weak of losses. The Tech Index declined 2 per cent, while the Shanghai Composite Index lost 0.6 per cent.Alibaba Group Holding plunged 5.1 per cent to HK$83.25, Baidu retreated 3.2 per cent to HK$121.60 and Tencent Holdings dropped 1.8 per cent to HK$331.40. Meituan lost 3.2 per cent to HK$129.20, while carmaker BYD fell 1.3 per cent to HK$240.60.Alibaba reported a 2 per cent increase in fourth-quarter revenue at 208.2 billion yuan (US$30.3 billion), missing analysts’ estimates of 209.2 billion yuan. The company also approved a full spin-off of its business units, starting with Cloud Intelligence Group, which is set to be publicly listed within the coming year, chairman and CEO Daniel Zhang Yong said.“Alibaba’s financial result does not offer too much surprise as it broadly reflects China’s reopening [losing traction],” said Gary Ng, a senior economist at Natixis in Hong Kong. “It is at the core of the market concerns right now.”Whether Alibaba can restructure successfully and finally list its units, will be important for market sentiment in China’s tech sector, he added.Goldman Sachs said in a report on Friday that while China’s fiscal revenue growth accelerated in April, issues including rising government debt levels and falling return on capital will restrain the government’s ability to roll out more pro-growth measures through fiscal policies.Three companies began trading in China. In Shanghai, semiconductor manufacturer Skyverse Technology surged 180 per cent to 66 yuan, while medical-equipment maker Hangzhou AGS MedTech fell 7 per cent to 116 yuan. Telecommunications service provider Shijihengtong Technology added 63 per cent to 43 yuan in Shenzhen.Major Asian markets trader higher. Japan’s Nikkei 225 climbed 0.8 per cent, Australia’s S&P/ASX 200 added 0.4 per cent, while South Korea’s Kospi rose 0.6 per cent.","news_type":1},"isVote":1,"tweetType":1,"viewCount":261,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":30,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}