A 7.1% slump on Monday, the worst in more than three months, wiped out $22.7-billion in the tech giant’s market value. The losses are set to grow as Alibaba shares extend declines into Tuesday, trimming the month’s gain to about 25% – still more than double the rebound for the benchmark Hang Seng Index.
“Some investors are getting cautious after such a sharp rally, and they are waiting for data on a fundamental recovery, including earnings and business guidance,” said Banny Lam, head of research at Ceb International. “The stock will remain volatile in the near term.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BUSINESS REFLECTION: After the Bell: The Adani Group and the ancient art of pooping and scoopingThe Indian stock market has seen the golden rules of ‘poop and scoop’ and ‘pump and dump’ applied at such a scale that it’s mind-boggling.
Source: dailymaverick - 🏆 3. / 84 Read more »
Amad to be sworn in as Joburg Mayor - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The newly-elected Johannesburg mayor Thapelo Amad, has rejected as baseless, criticism that bigger parties are holding him hostage. Well, duh!!! Imagine he said the opposite. A proper news story would have been proof either way, With 2 seats in council we know it for a fact you are a puppet for the ANC New mayor
Source: SABCNews - 🏆 37. / 51 Read more »