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Benzinga
Benzinga
Business
Henry Khederian

Why Alibaba Shares Are Falling

Shares of Chinese companies, including Alibaba Group Holding Ltd - ADR (NYSE:BABA), are trading lower as investors assess the economic impact of a surge in COVID cases in China.

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.

See Also: Why Wells Fargo Shares Are Sliding

Alibaba is the world's largest online and mobile commerce company as measured by gross merchandise volume.

According to data from Benzinga Pro, Alibaba is trading lower by 3.76% at $96.35. Alibaba has a 52-week high of $245.69 and a 52-week low of $73.28.

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