World’s trading giant is studying blockchain to adopt it to Alibaba service.
Alibaba reported profitability for its cloud computing business amid its ongoing regulatory scrutiny by China’s State Administration for Market Regulation (SAMR).
Alibaba stocks also benefited from the company’s entertainment sector that saw a huge demand during the pandemic as more people stayed at home to prevent the spread of the virus.
With the Chinese New Year holiday around the corner, Douyin Pay appears primed to enjoy patronage during this period.
The move by Bilibili to file for a secondary listing in Hong Kong is a clear manifestation of the tension between the United States and the Republic of China.
Despite the reported drop in the shares of Pinduoduo, the company is still seeing potential growth in other key aspects of its metrics.
Alibaba acquired the music streaming app Xiami back in 2013, whereby the app had been up and running since 2008.
The FAANG stocks may also benefit from the incoming administration that may stall agreement on the antitrust and the break-up threats on some of the top US tech companies.
Just as expected, the market has reacted to this news. The S&P futures (INDEXSP: INX) recorded a surge of 0.62% right after the Christmas holiday.
As the year comes to an end and the final trading week of 2020 begins, Asia markets were mixed on Monday as some firms pulled in gains and others declined. Alibaba stock is in the red.
Ant Group had anticipated raising up to $35 billion in a dual listing in Hong Kong and Shanghai stock exchanges.