Us Tiger Research News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Alibaba loses $20b in market value after U-turn on cloud unit spin-off

Alibaba loses $20b in market value after U-turn on cloud unit spin-off
dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.

China generalHong kongUnited statesJack maJoseph tsaiEddie wuJon withaarBo peiKenneth fongDaniel zhangTencent holdingsUnion bancaire privAlibaba group hong kongUs tiger researchPictet assetAmerican depository shares

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

HONG KONG/SHANGHAI: Alibaba Group's Hong Kong shares slumped 10 per cent on Friday (Nov 17) after it scrapped plans to spin off its cloud business, citing uncertainties fuelled by US curbs on exports to China of semiconductors used in artificial intelligence applications. The drop, potentially its biggest

Shi jialongUnited statesChina generalHong kongBo peiJoseph tsaiJack maEddie wuKenneth fongTencent holdingsUs tiger researchAlibaba group hong kongAlibaba groupAmerican depository sharesAlibaba chairman joseph tsai

Alibaba share price: Alibaba s Hong Kong shares tumble 10% after cloud unit spin-off shelved

The stock opened down 7.8% and then deepened its loss to 10.3% by mid-morning, heading for its biggest one-day drop in more than a year.

Shi jialongUnited statesHong kongEddie wuJoseph tsaiBo peiDonny kwokCasey hallMuralikumar anantharamanBrenda gohAnne marie roantreeAlibaba group hong kongUs tiger researchTencent holdingsAlibaba groupAlibaba chairman joseph tsai

Alibaba market cap: 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.

China generalHong kongUnited statesShi jialongJoseph tsaiGu liDonny kwokBo peiBrenda gohKenneth fongEddie wuAnne marie roantreeJack maMuralikumar anantharamanCasey hallUs tiger research

Alibaba s U-turn on cloud unit spin-off lops $20 bln 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.

Shi jialongUnited statesChina generalHong kongJack maKenneth fongBo peiJoseph tsaiEddie wuTencent holdingsUs tiger researchAlibaba group hong kongAlibaba groupAmerican depository sharesAlibaba chairman joseph tsaiAlibaba group