Shares of several Chinese stocks, including Alibaba Group Holding Ltd – ADR (NYSE:BABA), are trading lower after retail sales and industrial production in July grew slower than economists had originally forecast.
Shares of some Chinese companies have also been trading lower throughout the month of August amid continued regulatory concerns and COVID-19 Delta variant pressures.
Alibaba is the world’s largest online and mobile commerce company, measured by GMV (CNY 6.6 trillion/$1 trillion for the fiscal year ended March 2020). It operates China’s most-visited online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer).
Alibaba is trading lower by 2.3% at $184.35. Alibaba has a 52-week high of $319.32 and a 52-week low of $179.67.
