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Alibaba Preaches Caution as Signs Emerge of U.S-China Trade Deal
- U.S. President is said to ask cabinet to draft potential deal
- E-commerce giant scaled back its full-year growth forecast
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Alibaba Group Holding Ltd. adopted a cautious tone on the outlook for the global economy even as signs emerged of a possible end to a U.S. and Chinese trade war.
China’s largest e-commerce company reported quarterly earnings well above analysts’ estimates, while also trimming its prediction for full-year sales by as much as 6 percent. Shares slid as much as 2.7 percent.