Shares of Chinese stocks, including Alibaba Group Holding Ltd (NYSE:BABA), are trading lower after data showed slowing retail sales growth, which has caused economic concerns in the country.
Shares of several Chinese companies are trading lower over the past several months on continued weakness amid regulatory concerns regarding education and technology companies.
Alibaba is the world’s largest online and mobile commerce company. Alibaba 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 $156.42. Alibaba has a 52-week high of $319.32 and a 52-week low of $152.80.