Home Business Tokyo Stock Exchange + 0.50%, Hong Kong badly suffering from the Alibaba effect (-11%). Sidney flies this title after being offered by Blackstone

Tokyo Stock Exchange + 0.50%, Hong Kong badly suffering from the Alibaba effect (-11%). Sidney flies this title after being offered by Blackstone

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The Nikkei 225 index on the Tokyo stock exchange ended the trading day up 0.50% at 29,745 points. Focus on the Hong Kong stock exchange, with the Hang Seng benchmark list which lost 1.20%, mainly due to the decline in the Alibaba stock.

The title had already crashed on the NYSE yesterday, after the publication of a disappointing quarterly.

The Chinese e-commerce giant has paid for the slowdown in economic growth in China and the attacks the Beijing government has launched against the same giant founded by Jack Ma.

In the quarter ending September, its fiscal second quarter, Alibaba grossed 200.69 billion yuan ($ 31.4 billion) in revenue, lower than the expected 204.93 billion yuan, up 29%. every year. The eps stood at 11.20 yuan, less than the 12.36 yuan expected, down 38% on an annual basis. Alibaba also cut fiscal year revenue guidance. The prices thus sank to about -11% on Wall Street, suffering a thud in Hong Kong of more than -11%.

Domino effect on other Chinese Big Tech listed in Hong Kong: the sells also fell as a result on Meituan, Tencent, Baidu.

In particular, the latter slipped by about 4.6%.

On the other hand, Alibaba’s rival JD.com, whose prices jumped by more than + 8%, went against the trend.

The Shanghai Stock Exchange is doing well, up by more than 1%; Sidney up 0.23%: Crown Resorts’ unleashed rally, which flew over 16% after receiving a $ 6.2 billion buyout offer from Blackstone, starred on the Australian stock exchange, according to Reuters.

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Seoul Stock Exchange Kospi Index up 0.80%.

Yesterday tight close for Wall Street: the S&P 500 rose 0.3% to 4,704.54 points, and the Nasdaq Composite made + 0.5% to 15,993.71. The Dow Jones fell 60 points, or -0.1%.

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