Alibaba’s long-awaited China stock link may provide timely boost

Quick Summary:

The new source of funds via the so-called southbound link could support the firm’s shares, which have underperformed rival Tencent Holdings.

China’s weak retail sales have hurt Alibaba’s key business, and price wars in cloud services are curbing the growth of a potential new driver.

Bloomberg Intelligence’s Chen sees up to around US$19.5 billion in inflows, though “this will take time to accumulate and the initial impact will not be as large”.

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Article Details

Author / Journalist: Bloomberg

Category: Business

Markets: Hong KongChina

Topics: Hong Alibaba Investors Year Chinese Month Stock Billion Shares Kong Cent

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-19 @ 20:31:51 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 543 words

Reading Time: 4 minutes read

Sentences: 20 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22138924

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