Alibaba, Tencent hope earnings can counter selloff in wake of US-China trade war

A monitor displays Alibaba Group Holding Ltd. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Tuesday, Jan. 2, 2018. Photographer: Michael Nagle/Bloomberg

China’s two largest companies have lost a combined $140 billion in market value since the escalation of the trade war in May. As Alibaba Group Holding Ltd. and Tencent Holdings Ltd. report earnings this week back-to-back, they’ll try to show the punishment is overdone.

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