Shares of Alibaba and JD.com rose over 3% in Wednesday morning opening trade, with Hong Kong’s benchmark Hang Seng Index also beginning on a positive note, gaining 0.91%. Alibaba is set to release its June-quarter earnings on Thursday.
Alibaba Group Holding Ltd. (NYSE: BABA) is expected to post its first quarterly revenue decline on Thursday morning, with the firm grappling with an uncertain regime and a consumer crisis that is hurting the world’s second-largest economy, reported
Rising Tensions: Markets opened lower Tuesday morning, amid rising tensions between the United States and China. House Speaker Nancy Pelosi is set to visit Tawain Tuesday night, in a move that has upset Chinese officials.
Hong Kong’s benchmark Hang Seng Index opened in the red, losing over 2.5% in opening trade, following the trend in broader Asian markets after reports emerged that U.S. House Speaker Nancy Pelosi was to arrive in Taiwan on Tuesday. China has issued a strongly worded statement saying it will take firm measures if she does so.
Hong Kong’s benchmark Hang Seng Index opened in the red on Monday, losing 0.88%, ahead of the release of China’s Caixin/Markit manufacturing purchasing managers’ index for July.
Hong Kong’s benchmark Hang Seng Index was in the red on Friday, losing over 0.5% in opening trade, despite a continuing rally on Wall Street. Alibaba shares fell close to 4% following reports Chinese billionaire Jack Ma is planning to cede control of Ant Group.
Hong Kong's benchmark Hang Seng Index edged lower on Thursday morning, with major U.S.-listed Chinese stocks trading mixed, after the city's central bank hiked interest rates in tune with the U.S. Federal Reserve's move overnight.
Shares of Alibaba, Nio and Li Auto lost more than 3% on Wednesday morning with the Hong Kong’s benchmark index Hang Seng falling over 1%, ahead of the release of Australia’s inflation report.