Alibaba Group Holding Ltd is trading 3.1% down at $115.95 in pre-market, extending recent weakness as investors weigh reports that Ant International is seeking $1 billion in funding.
- Ant International, linked to Alibaba’s Ant Group, is reportedly seeking about $1 billion in funding at a $10 billion valuation, which may be prompting position adjustments.
- Broader equity markets are under pressure ahead of key U.S. CPI data, contributing to a general risk-off sentiment.
- The current decline marks a continuation of a downward trend for the stock following several consecutive days of losses.