Chinese technology stocks have taken a hit in recent weeks amid concerns about a government crackdown on powerful technology companies. China has clamped down on ride-hailing giant Didi Global Inc. DIDI, +4.56% just after its initial public offering and has more recently targeted online-education companies in the country.
The moves have sparked fears that the Chinese government plans a tougher posture toward private companies more generally, which could pose risks for U.S. investors. With this backdrop, Alibaba’s U.S.-listed shares fell 13.9% in July, their worst monthly performance in more than two years.“We believe most of these new regulations do not impact Alibaba, though clearly investors are concerned over increased regulatory focus,” Raymond James analyst Aaron Kessler wrote in a note to clients.
Strong results in the commerce business could help distract from the regulatory issues that are outside Alibaba’s control, noted Baird analyst Colin Sebastian. Earnings: The FactSet consensus calls for RMB14.33 in adjusted earnings per share during the June quarter, down from RMB14.82 a year prior.
Chinese for long beat authoritarian rule contradiction to create some of the world's greatest companies but it's internet crackdown now poses the contradiction as THE Central issue which could backfire so big time as it takes away the one thing capitalism likes predictability
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European stocks set to pull back from highs with earnings, data taking center stageEuropean stocks are set for a lower open Friday after closing the previous session at all-time highs, as investors react to another deluge of earnings and economic data. good Market is down because end of month , big funds balance the book or manipulate the market .
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