- Both official and private surveys revealed bullish business sentiment across manufacturing and services sectors.
- Policy support for electric vehicles sent related stocks soaring. The leading players are supported by the Chinese internet giants.
- The shock eleventh-hour suspension of Ant Group's IPO might have resulted in shareholders seeking solace in Alibaba's Q2 FY2021 results, causing raised expectations which eventually disappointed.
- Nonetheless, the earnings surprise percentage was among the highest historically. Ex-Core Commerce segments are achieving the scale effect or the operating efficiency.
- With earnings out of the way, shareholders of Alibaba would now focus their attention on the sales data from Singles' Day as the remaining share price catalyst. Initial numbers are looking good.
For further details see:
Alibaba: Promising Earnings, Depending On Where You Look