Alibaba Falls Below $100 in Post-Holiday Slump: China Overnight
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Alibaba Group Holding Ltd., China’s biggest e-commerce company, fell for a fourth day in New York, extending a retreat from its November high as the peak shopping season ended and investors await quarterly results expected next month.
The shares slid 1.2 percent to $99.58, falling below $100 for the first time since October. JD.com Inc., China’s second-largest online shopping platform, and E-Commerce China Dangdang Inc. also posted four-day declines. Online sports-lottery operator 500.com Ltd. retreated after surging 27 percent in the previous two days. The Bloomberg China-US Equity Index slid 0.8 percent.