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US stocks | Alibaba's biggest decliner in a single day since its listing, Pinduoduo has soared by more than 10%

2020-12-24T20:22:51.197Z

In the mid-day market of US stocks on Christmas Eve, the indexes rose together. S&P closed at 3,703.06, up 13.05 points; Dow closed at 30199.87, up 70.04 points; Nasdaq closed at 1,284.73, up 33.62 points. With "choose one of two"



Financial News

Written by: Yang Qian

2020-12-25 03:09

Last update date: 2020-12-25 03:31

In the mid-day market of US stocks on Christmas Eve, the indexes rose together. S&P closed at 3,703.06, up 13.05 points; Dow closed at 30199.87, up 70.04 points; Nasdaq closed at 1,284.73, up 33.62 points.

Following the investigation of suspected monopolistic behavior by the Chinese authorities, Alibaba's Hong Kong stocks (09988.HK) fell sharply on Thursday, and the U.S. stocks (BABA.US) continued to fall, falling 15.4% at one point, setting a record since September 2014 The biggest one-day drop since its listing in the United States.

The share price of rival Chinese e-commerce platform Pinduoduo (PDD.US) once soared 11.85%,

Alibaba plus U.S. stocks map source Reuters

The General Administration of Market Supervision of China announced that according to the report, after formally investigating suspected monopolistic behaviors such as "choose one out of two" Alibaba, Alibaba closed at 228.2 yuan in the half-day market on Thursday, down 8.1%. It was once low at 226.2 yuan, a recent record. 5-month low.

After the U.S. stock market opened, Alibaba's (BABA.US) stock price plummeted all the way, and it fell 15.4% in the middle of the transaction, setting the biggest one-day drop since its listing in the United States in September 2014.

The market closed at 222 US dollars, down 13.34% from the previous trading day.

The stock price of Chinese e-commerce platform Pinduoduo US stocks soared on Christmas Eve.

(Profile picture)

On the other side of the "two-choice" event, Chinese e-commerce company Pinduoduo listed in the United States, its stock price rose by 11.85% on Thursday, and closed at US$152.75, up 8.91%.

According to mainland media reports, many merchants who opened stores on Pinduoduo and Tmall at the same time received a notification from Tmall last year that they had "choose one of two", which meant that only one of the two platforms could be used.

U.S. stocks improve in the early stage, Alibaba tumbles 12% compared to Hong Kong's closing price

What's special about Alibaba being investigated in anti-monopoly

Alibaba's U.S. stocks fell more than 7% before the market, allegedly suspected of monopolistic behavior and investigated

Lian Deng stock god mommy is optimistic about Alibaba and Tencent, and they lose more than $5000 in 3 and a half days

Alibaba's involvement in monopoly was investigated. US media compared the incident with the anti-monopoly of science and technology enterprises

Alibaba was investigated by CCTV Financial Review: Set rules to make the platform economy develop better

Alibaba's monopoly involved in the investigation, the market value has evaporated by nearly 450 billion, and the expert recommends to change the stock

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US stocks US stocks invest in US stocks Alibaba

Source: hk1

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