Alibaba market cap sinks by half in a year since Ant IPO shelved

Alibaba market cap sinks by half in a year since Ant IPO shelved

The logo of Alibaba Group is seen during Alibaba Group's 11.11 Singles' Day global shopping festival at the company's headquarters in Hangzhou, Zhejiang province, China, November 10, 2019. REUTERS/Aly Song

Alibaba Group Holding has lost more than half its market value in the year since finance arm Ant Group’s listing was postponed under pressure from Chinese regulators, sapping the momentum of China’s top e-commerce company.

Alibaba’s market capitalization topped out at 6.6 trillion Hong Kong dollars ($846 billion at current rates) at the end of October 2020 but has since slumped to about HK$2.8 trillion, or $358 billion. The company is also listed on the New York Stock Exchange.

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