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Alibaba Donates a Third of Its Cash to Chinese Initiatives. The Stock Is Falling.

September 8, 2021
Source: ncfacanada.org ncfacanada.org
News Snapshot:
[Rojin Nair, Advisor] June 1st, 2021 Barrons | | Sep 3, 2021 Alibaba stock tumbled in Hong Kong trading, with the company’s U.S.-listed shares set for similar declines, as the Chinese internet giant confirmed Friday a large donation to social and economic programs in its home country. The stock fell 3.5% in Hong Kong and Alibaba’s American Depositary Receipts were down more than 1% in U.S. premarket trading. The decline weighed down the Hang Seng Tech Index, of which Alibaba is one of the largest constituents, which underperformed the wider Hang Seng to fall 1.1%. Stocks in Shanghai and Hong...
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