The Latest Breaking News from Alibaba

Hong Kong (AFP) - Asian markets rose again Tuesday, building on the strong start to the week as traders look ahead to the Federal Reserve's policy decision, hoping it will signal a more dovish approach to fighting inflation.

Key Takeaways: Gome’s revenues are falling sharply despite gains for its online business, as tumbling sales at its brick-and-mortar stores lead to layoffs and closures

Hong Kong shares opened in the red on Friday, with the benchmark Hang Seng falling 1.5%, as mixed earnings prompted traders and investors to pare positions before the end of the week.

Chinese e-commerce giant Alibaba Group Holding has vowed to support merchants with the necessary tools to help them succeed in its 11.11 global shopping festival, which was officially launched yesterday.

Key Takeaways: Nearly two months after its launch, Pinduoduo’s cross-border e-commerce Temu app is among the top U.S. e-commerce apps based on new download rankings Despite its early success, the app will face a series of challenges in its target U.S. market, including cutthroat competition and high marketing expenses

Hong Kong stocks traded mixed on Tuesday with the benchmark Hang Seng Index falling over 1% in morning trade as investors continued to flee mainland Chinese stocks following President Xi Jinping’s historic consolidation of power.

China stocks faced a bloodbath on Wall Street after President Xi Jinping shock move to consolidate his grip on power.

The small-cap Russell 2000 lagged the market with a 0.4% gain. The Innovator IBD 50 rose over 1%.

Alibaba Group Holdings, Ltd - ADR (NYSE: BABA) plunged 20% off Friday’s closing price at one point Monday before bouncing up about 6% from the low-of-day.

Hong Kong stocks opened in the red on Wednesday, with the benchmark Hang Seng opening 0.42% lower ahead of a key speech by the city’s leader John Lee.

Kweichow Moutai has overtaken the tech group in market capitalisation thanks to the whims of one man