Tiger Brokers

BUZZ-Alibaba HK stock hits nearly 7-month low on Q3 revenue miss

Reuters
Mar 20
BUZZ-Alibaba HK stock hits nearly 7-month low on Q3 revenue miss

** HK shares of Alibaba 9988.HK fall 6.4% to HK$123.5, lowest level since August 29

** Stock set for biggest one-day pct decline since April 7, 2025; second biggest pct loser on Hang Seng Index .HIS, Hang Seng TECH Index .HSTECH, which are down 0.4% and 1.2%, respectively

** U.S-listed stock BABA.N fell 7.1% on Thursday

** China's largest e-commerce group reports 1.7% rise in Q3 revenue, but net income drops 66.3%; both below analysts' estimate, as heavy spending on one-hour delivery, promotions during peak shopping periods failed to spur demand

** Jefferies ("buy") says total revenue growth lags consensus

** Trims PT on HK stock to HK$206 from HK$218, and on U.S. stock to $212 from $225

** YTD, HK stock down 12.1%, U.S. shares down 14.8%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10