China E-Commerce Giant Alibaba Falls After Reports of Move to Singapore

By January 30, 202311 views

Panorama of a city business district with office buildings and skyscrapers and superimposed data, charts and diagrams related to stock market, currency exchange and global finance. Blue line graphs with numbers and exchange rates, candlestick charts and financial figures fill the image with a glowing light. Sunset light.

China E-Commerce Giant Alibaba Falls After Reports of Move to Singapore | Barron’s

Stock in

Alibaba

the Chinese e-commerce site, fell 7% in Hong Kong trading on Monday after reports the company is moving its headquarters out of the country.

Alibaba (ticker: HK:9988) to be building a new campus in Singapore, according to the reports, which could become its global headquarters. The South China Morning Post said the company denied that speculation, saying the facility would house regional operations. Alibaba’s headquarters are in the city of Hangzhou in the east of mainland China.