Understanding the Market | Alibaba-W fell over 5% again, halving from last October's peak, with external negative factors and a quiet 618 dragging down the stock price
Alibaba-W fell over 5% again, hitting a low of HKD 90.05 during the session, which is a halving from last year's high of HKD 185.17 in October. As of the time of writing, it is down 5%, reported at HKD 90.25, with a transaction volume of HKD 4.876 billion. In terms of news, Anthropic accused Alibaba of illegally extracting the core capabilities of its AI model Claude through large-scale fake accounts. Anthropic described this as the largest "distillation attack" the company has encountered to date. Additionally, Alibaba has formally filed a lawsuit in a U.S. court requesting to be removed from the "Chinese Military Enterprises List." It is worth noting that the 618 shopping festival recently concluded quietly. Citigroup released a report indicating that this year's 618 is likely to be the most low-key and bland in the past 16 years. Fudan University's Big Data Laboratory estimates that the overall online GMV during this year's 618 period grew only 3.2% year-on-year. The bank pointed out that due to Alibaba's significant reduction in investment in instant retail this year, the entire industry lacks aggressive subsidy competition, which further contributed to the relatively quiet 618 activities this year
According to Zhitong Finance APP, Alibaba-W (09988) has fallen over 5% again, hitting a low of HKD 90.05 during the session, which is a halving from last year's high of HKD 185.17 in October. As of the time of writing, it is down 5%, trading at HKD 90.25, with a transaction volume of HKD 4.876 billion.
In terms of news, Anthropic has accused Alibaba of illegally extracting the core capabilities of its AI model Claude through large-scale fake accounts. Anthropic described this as the largest "distillation attack" the company has faced to date. Additionally, Alibaba has formally filed a lawsuit in a U.S. court, requesting to be removed from the "Chinese Military Enterprises List."
It is worth noting that the 618 shopping festival recently concluded quietly. Citigroup released a report indicating that this year's 618 is likely to be the most low-key and bland in the past 16 years. The Big Data Laboratory of Fudan University estimates that the online GMV during this year's 618 period grew only 3.2% year-on-year. The bank pointed out that due to Alibaba's significant reduction in investment in instant retail this year, the entire industry lacks aggressive subsidy competition, which further contributed to the relatively quiet nature of this year's 618 event
