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The instinct is to sell. Asia technology companies from Singapore to China are making the right noises on cost cutting and are mostly moving in the right direction but can’t do enough to please investors. The market’s high expectations are a sticky problem for a sector on the mend.
Alibaba has revealed its cloud division - which includes its generative AI product Tongyi Qianwen - will be the first company to become a separate, publicly traded company following the e-commerce giant's restructure.
Alibaba (NYSE:BABA) announced plans to spin off its cloud division as a separate, publicly-traded company, while the e-commerce titan’s quarterly revenues missed expectations. “We are taking concrete steps towards unlocking value from our businesses ...
Chinese ecommerce giant Alibaba set to split into six units and selling off some of its businesses.
Amid underwhelming revenue growth in its full fiscal 2023 results, the group announces major restructuring with a timeline to list its logistics and grocery businesses. A slumping Hang Seng index adds to investor concerns.