Despite the continuing rout on Chinese stock markets on Monday, shares in Alibaba (NASDAQ:BABA) escaped with only a fractional loss in Hong Kong, while its U.S. listing gained ahead of the e-commerce company’s fourth-quarter earnings report on Wednesday.
In Hong Kong, the shares dipped 0.1%, while Nasdaq-listed shares climbed 3.4% to $74.25 in morning trade.
Could there be some positive news to come on Wednesday that might bring a ray of hope to beleaguered Chinese investors?
There hasn’t been much joy for investors in Alibaba since its market debut in Hong Kong in November 2019. The shares debuted at HK$187 and climbed to a peak of HK$309 in October 2020. But since then it’s been nearly all downhill to its current level at around HK$71.
Also Read: China Market Rout Continues, With Small Caps Feeling The Pain Despite Beijing’s Intervention
Alibaba Q4 Earnings Expectations
Two weeks ago the consensus expectation for Alibaba’s fourth-quarter earnings stood at $2.73 …
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