DJ Alibaba's Record Antitrust Fine Is Likely One-Off -- Market Talk
0344 GMT - Alibaba Group's $2.8 billion antitrust fine from China's market regulator is likely a manageable one-off expense for the e-commerce giant, Nomura says. After the antitrust investigation is concluded, Alibaba can move on and focus on its operations, the Japanese investment bank adds. The market is likely to focus more on rising competition in China's online group-buy segment, and although Alibaba is a latecomer to the segment, the e-commerce firm's strong supply chain network is a key strength which will allow it to narrow the gap with current market leaders. Nomura maintains its buy rating and target price on Alibaba's ADRs, which closed 2.2% lower at $223.31. Alibaba's H-shares jump 7.3% to HK$234.00. (yiwei.wong@wsj.com)
(END) Dow Jones Newswires
April 11, 2021 23:44 ET (03:44 GMT)
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