Alibaba Group Holding Ltd. led Chinese tech stocks higher on Thursday as investors repositioned ahead of its quarterly results, though caution remained about a number of potential roadblocks ahead. Shares of the e-commerce giant gained as much as 6.5% in Hong Kong, among the best performers on the Hang Seng Tech Index, which advanced as much as 3.4%.
has raised as much as $22 billion in cash through the sale of forward contracts using Alibaba shares, the Financial Times reported, which would add to selling pressure down the road if SoftBank opts against buying back the Alibaba shares. Here are three charts showing the hurdles ahead for Alibaba’s stock: Analysts expect Alibaba’s April-June sales to fall 0.9% from a year earlier, marking its first-ever quarterly revenue contraction.
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