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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
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Chinese Big Tech shares plunge following Alibaba s big drop

Chinese Big Tech shares plunge following Alibaba s big drop
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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

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