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Alibaba is primarily based in Hangzhou, China.
Qilai Shen/Bloomberg
Inventory in
Alibaba
,
the Chinese e-commerce web-site, fell 7% in Hong Kong trading on Monday just after reviews the firm is relocating its headquarters out of the state.
Alibaba (ticker: HK:9988) to be developing a new campus in Singapore, in accordance to the reports, which could come to be its world-wide headquarters. The South China Early morning Publish reported the corporation denied that speculation, declaring the facility would residence regional functions. Alibaba’s headquarters are in the metropolis of Hangzhou in the east of mainland China.
That wasn’t plenty of to stop the shares from sliding. The stock shut down 7.1% on Monday.
Alibaba did not promptly respond to a ask for for remark from Barron’s.
Alibaba’s U.S.-traded American depositary receipts (BABA) finished minimal altered on Friday at $118.42.
Compose to Brian Swint at brian.swint@barrons.com
