Good for long term because they are investing in development of their business like cloud computing. Revenue is still up yoy and consumers are growing. Hold for the long term, there will be rocky days like today
Alibaba slid over 9% in morning trading as its net profit fell down 87% year-on-year
Great measures actually, China does a lot toprevent the development of monopolies and stamp out unfair practices very harshly. Their measures are seen as draconian by outsiders especially the Western world, but their astronomical growth in recent decades have shown that they are on the right track and know what they are doing.
China tech stocks lower as nation issues draft competition rules