Hong Kong Stocks of Alibaba have sunk into the deep sea; Alibaba opened the market at HK$69 in early trading on the 20th, downstairs 5.90%, which could be a record low hawkish stance for Alibaba. The market value of a stock has nethermost Depths of underworld HK$69.
The total market value of Alibaba’s Hong Kong stock is HK$1,461.4 billion. Alibaba’s share price oscillated between a slight up and a drop in price for a while; Alibaba’s share price has come a long way to bag HK$68 at the beginning of the plenary, which is considered a downfall of 6.5%.
In addition, in August this year, Alibaba Group undisclosed that the company had approached the Hong Kong Stock Exchange to be placed in primary listings in Hong Kong and New York. Therefore, it was accepted by the Hong Kong Stock Exchange. The announcement abstract indicates that On August 8, the Hong Kong Stock Exchange confirmed Alibaba’s application for a primary listing in Hong Kong. The listing status will become effective at the end of this year.
Furthermore, Alibaba figures suggest that the company’s public course upsurged drastically on the Hong Kong Stock Exchange as its secondary listing in Hong Kong in November 2019.
For a cross calculation, the six months ended June 30 this year, and the approximate daily trading of the company’s shares in the Hong Kong market was US$700 million. On the flip side, the company has secured US$3.2 billion in the US share market. Discerning the report, in the first quarter of the business year 2022, Alibaba’s revenue was 205.56 billion yuan (RMB, the same as below), a YoY downfall of 1%; the net profit was 30.25 billion yuan, a 30% YoY slide.