Alibaba Group is trading at $127.96, down 3.3% now, as sector- and macro-driven selling weighs on Chinese tech.
- Opening-market selling followed a 3.04% gain to $132.32 on August 10.
- Chinese stocks closed lower on August 11: Shanghai fell 0.82%, while Hong Kong’s Hang Seng Tech Index declined 1.93%.
- Rising oil prices and stalled U.S.-Iran negotiations added broader risk-off pressure; no fresh company-specific catalyst was identified.