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Alibaba s U-turn on cloud unit spin-off lops $20 bil off its market value

Alibaba Group s Hong Kong shares slumped 10 percent on Friday after it scrapped plans to spin off its cloud business, citing uncertainties fuelled by U.S. curbs on exports to China of semiconductors used in artificial intelligence applications.

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Alibaba s U-turn on cloud unit spin-off lops $20 billion off its market value

The drop, potentially its biggest one-day fall in more than a year, wiped about $20 billion off the Chinese tech giant s market value.

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Alibaba s U-turn on cloud unit spin-off lops $20bln off its market value

Alibaba s U-turn on cloud unit spin-off lops $20bln off its market value
zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.

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Alibaba announces U-turn on cloud unit spin-off

Alibaba announces U-turn on cloud unit spin-off
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Alibaba s HK shares tumble 10% after cloud unit spin-off shelved

Alibaba s HK shares tumble 10% after cloud unit spin-off shelved
chinadailyhk.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chinadailyhk.com Daily Mail and Mail on Sunday newspapers.

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