Shares of Alibaba Group Holding Ltd. dropped around 3 percent in Hong Kong trading after the Chinese e-commerce major announced the departure of Daniel Zhang, former chief executive officer, as the head of its cloud business.
Indonesia's retail sales increased for the second successive month in July, and retailers expected sales to maintain the growth momentum in August, the results of a survey by Bank Indonesia showed on Monday.
Former Alibaba CEO Daniel Zhang is stepping down from leading its cloud division just two months after announcing he would focus on it, raising concerns about its coming IPO.