Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
World
Navdeep Yadav

Why Alibaba Is Sliding, While Other Tech Stocks Are Rising In Hong Kong Today

Shares of U.S.-listed Chinese tech firms JD.Com Inc. (NASDAQ: JD), Tencent Holdings (OTC: TCEHY), and Baidu Inc. (NASDAQ: BIDU) rose in Hong Kong on Thursday, while e-commerce giant Alibaba Group Holdings Ltd. (NYSE: BABA) was trading in the red.

How Big Tech Stocks Are Faring In Hong Kong Today
Stocks Movement (+/-)
Alibaba -2.59%
JD.Com 0.53%
Tencent 0.54%
Baidu 2.09%

What Happened: The Hang Seng Index was firmer at press time on Thursday, following positive cues in global markets.

According to an SCMP report, Hong Kong will start easing social-distancing rules that have been in place for months from April 21, including an extension of dine-in hours for restaurants. It added that people would be permitted to take off their masks when visiting parks and exercising outdoors.

Company In NewsAlibaba Cloud, the cloud computing unit of the e-commerce firm, is undergoing an aggressive reshuffle among senior executives.

Its China President Ren Geng on Wednesday resigned for undisclosed reasons, with Vice President Huang Haiqing succeeding him. Geng looked to leave as early as 2021 but had stayed back. 

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.