Alibaba (BABA)

[Beheerder]

[nobody]

Alibaba is buying back more and more stock as prices extend selloff

Alibaba’s quarterly stock repurchases have more than tripled over the past three quarters to $5.8 billion

Shares of Alibaba Group Holding Ltd. rallied Tuesday, after the China-based e-commerce giant disclosed that it continued to increase stock repurchases as prices struggled to gain traction.

The company said before the opening bell that it spent $5.8 billion to buy back the equivalent of 77 million American depositary shares during the three months ended June 30.

That’s up from the $4.8 billion spent during the previous three-month period, double the $2.9 billion worth of shares repurchased during the quarter ending Dec. 31 and more than triple the $1.7 billion spent on repurchases during the quarter ending Sept. 30.

Alibaba’s U.S.-listed shares BABA, +2.57% hiked up 1.9% in afternoon trading. A brief spike up in mid-May saw the stock reach an eight-month high, but it ended June with a quarterly decline of 0.5%.

It had tumbled 17% amid a three-quarter losing streak, before it bounced 2.2% the past two days.

The amount spent and the number of ADS repurchased implies an average buyback price of $75.32 per ADS, which was below the volume-weighted average price for the ADS during the quarter of $76.68, but above where the stock ended the quarter at $72.

The $15.2 billion the company spent on repurchases over the past four quarters represents about 8.8% of the company’s current market capitalization of $177.85 billion.

Alibaba said that, as of June 30, there was $26.1 billion remaining in its stock-repurchase program, or roughly 15% of the company’s market cap. There were 2.38 billion ADS outstanding as of June 30.

The stock has lost 11.8% over the past 12 months, while the iShares MSCI China ETF MCHI has shed 5% and the S&P 500 index SPX has rallied 23.3%.

https://www.marketwatch.com/story/aliba ... f-b8c9f6c3

[doittomeonemoretime]

Volgens de JDB strategie nog een eindje te gaan (EMA, month staat op 85 ondertussen), gewoon koersbehoud tov vorig jaar zou ongeveer voldoende geweest zijn. Nu ja, met dergelijke cijfers kan het niet blijven kwakkelen dus de inkopen zorgen indirect voor een meerwaarde die zich ooit zal manifesteren. Geduld is een mooie deugd

[Rudi]

Alibaba heeft in het afgelopen kwartaal een lager dan verwachte omzet en winst geboekt, door concurrentie in het e-commerce-bedrijf en investeringen in zijn cloudbedrijf. Dat bleek donderdag uit de kwartaalcijfers van het Chinese bedrijf dat ook een beursnotering in New York heeft.

[nobody]

Alibaba to upgrade Hong Kong listing in a bid to attract Chinese investment

BENGALURU (Aug 23): Shareholders of Chinese e-commerce giant Alibaba have approved a plan to upgrade its Hong Kong listing to primary status, the company said on Friday, a move that is expected to attract huge investments from mainland China.

The Jack Ma founded firm had originally proposed the idea a couple of years ago at a time when there was heightened geopolitical tensions between China and the US.

The listing status upgrade allows Alibaba to be part of a programme which would connect the respective bourses in Shenzhen and Shanghai to the Hong Kong stock exchange.

The decision was expected to be approved by the company's investors who have long been concerned over the firm's growth prospects as it faces new market rivals such as PDD Holdings.

The conversion to dual primary listing does not involve any issue of new shares or even raising of funds by the company, Alibaba said.

Hong Kong-listed shares of the company gained as much as 0.7% to HK$82.20 (RM46.18) in early trade.

Uploaded by Chng Shear Lane

https://theedgemalaysia.com/node/723977

[nobody]

Alibaba’s Stock Connect membership may be a boon to US, Japanese equities

(Aug 28): Alibaba Group Holding Ltd’s impending inclusion in the Stock Connect may unleash as much as US$3.2 billion (RM13.9 billion) of cash across global markets. Analysts say that Japan and US equities are potential beneficiaries.

The addition will allow qualified domestic institutional investor (QDII) funds to own shares of Alibaba via the connect, instead of accessing them via their foreign exchange quota. Asset managers can then use the quota that’s freed up to buy other shares, including overseas names.

The inclusion is likely to provide a further fillip for foreign equities, such as US and Japanese stocks, which have handily outperformed Chinese stocks this year. The benchmark CSI 300 Index has lost over 3% since end-December, compared to a gain of more than 10% for both the S&P 500 and Topix gauges.

“US stocks are simply offering better returns, so there’s going to be unstoppable demand. That’s the hard truth,” said Yu Aibin, a fund manager at Shenzhen Jointfull Capital Management Co. “For larger investors, positioning via QDII funds, even with some premiums, is still a good deal, as the cost of capital is lower than through other channels, such as cross-border swaps.”

https://theedgemalaysia.com/node/724553

[nobody]

Alibaba wins Beijing’s approval in end to years-long scrutiny

Alibaba Group Holding Ltd. has secured the endorsement of China’s antitrust watchdog more than three years after a landmark probe into its online behaviour, suggesting Beijing is keen to signal its support for the country’s giant internet sector.

China’s e-commerce leader has ceased the monopolistic practices that prompted an investigation more than three years ago, the State Administration for Market Regulation said in a statement. It stopped forcing exclusive arrangements on merchants, improved services for shoppers and fostered competition among online platforms, the agency said. Alibaba’s shares rose more than 4% in pre-market trading in New York.

The official endorsement coincides with growing calls of support from Beijing for private firms and the technology industry, a chorus that’s grown louder as the country struggles to escape a post-Covid economic funk. Government officials have since 2023 signalled a softening in stance toward the private sector compared with 2020 and 2021, when a plethora of agencies launched regulatory crackdowns to curb the power of China’s internet leaders and their billionaire founders.

The antitrust regulator launched its probe into Alibaba in 2020 as one of the opening salvos in that broader campaign, which eventually encompassed sectors from ride-hailing to online education and commerce. Less than a year later, authorities slapped a record US$2.8 billion ($3.65 billion) fine on Alibaba after ruling it abused its market dominance.

On Friday, the antitrust agency lauded “effective results” in Alibaba’s three-year rectification work, which it demanded when levying the fine. The regulator added it will guide Alibaba, continue to regulate its operations and help improve compliance.

“This is a new beginning for Alibaba,” the company said in a statement. “In the future, we will continue to focus on innovation, adhere to compliance, increase investment in technology, promote the healthy development of the platform economy, and create more value for society.”

The chilling effect of the crackdown years persists. Funding for new startups has slowed as entrepreneurs and investors, spooked by the intensity of that regulatory campaign, turn toward sectors such as chipmaking and AI that align with Beijing’s priorities. The once-free-wheeling industry has become more cautious about exploring growth initiatives, for fear of provoking fresh scrutiny.

More immediately, the industry is grappling with flagging consumer spending.

In the latest warning to global markets on the health of the Chinese economy, Temu-owner PDD Holdings Inc. on Monday surprised investors with an unusually gloomy outlook. Both PDD — which became a market darling with low-priced goods that helped propel business during China’s downturn — and Alibaba reported revenue that missed estimates.

https://www.theedgesingapore.com/news/t ... g-scrutiny

[doittomeonemoretime]

Deftige stijging in Hong Kong dus gaan we dit vertaald zien in Amerika straks ? Indien zo zouden er wel wat technische lijntjes kunnen sneuvelen....one to watch

[nobody]

Alibaba rises in Hong Kong after stock made directly accessible to mainland investors

(Sept 10): Alibaba Group Holding Ltd’s stock rose in Hong Kong after it was made directly accessible to investors in mainland China for the first time.

Shares of the e-commerce company were added to the Stock Connect programme that links the Shanghai and Shenzhen bourses to the Stock Exchange of Hong Kong starting from Tuesday. The stock gained as much as 5.2%, the most since Aug 16, with volume already more than double the three-month full-day average as of 10.20am.

The highly anticipated inclusion is expected to attract about US$20 billion (RM87.25 billion) of inflows into the stock into next year, with mainland investors’ likely to build a stake of over 10% in Alibaba, according to Bloomberg Intelligence (BI). That should also help Alibaba narrow its valuation discount to rival PDD Holdings Inc, according to BI analysts.

Shares of the e-commerce firm are up 7.5% in Hong Kong so far this year, compared with an 9% drop in the Hang Seng Tech Index. The inclusion is a timely boost after the company recently reported a revenue miss for the second quarter, as China’s weak consumption continues to sap retail sales momentum.

Alibaba had been one of the few major Chinese stocks that was unable to join the Stock Connect, as it only had secondary listing status in Hong Kong. The company upgraded to dual-primary listing status for Hong Kong as well as New York in August, allowing it to finally be made available for mainland trading.

The Hong Kong exchange publishes turnover figures for the top 10 traded stocks via the links each day after the close.

Among other Hong Kong-listed stocks being made available to mainland traders on Tuesday, Mongolian Mining Corp rose as much as 12%. Among stocks being removed from the links, Shimao Group Holdings Ltd plunged 30%.

Uploaded by Tham Yek Lee

https://theedgemalaysia.com/node/726137

[Beheerder]