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Alibaba leads sharp drop in Chinese internet stocks as it heads for worst month since November

July 30, 2022
Source: bitcoinethereumnews.com bitcoinethereumnews.com
News Snapshot:
U.S.-listed shares of Chinese internet stocks including Alibaba Group Holdings Ltd. BABA, were sinking Friday to cap off an eventful week that saw Chinese leaders reportedly acknowledge that the country could come up shy of its growth goals. The Wall Street Journal reported Thursday that the Chinese Politburo put out a statement asking stronger provinces to work to meet expansion targets, which was seen as a sign that country leaders may not currently expect other areas to hit their marks. Alibaba’s U.S.-listed shares were off 8.5% in Friday’s session and down 18.9% over the course of July. That would put...
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