U.S.-listed Chinese tech stocks, led by Alibaba, JD.com, and PDD, fell sharply despite gains in the broader U.S. market. Alibaba shares dropped 5%, while JD.com and PDD each declined 4%, reflecting a group-wide selloff. Alibaba's heavy investment in artificial intelligence and cloud computing contrasts with the declines, raising questions about the profitability of such spending. Investors will watch Alibaba's upcoming cloud results and the KraneShares China Internet ETF for signs of recovery or further weakness.
Alibaba shares on Pluang are down 3.95% at USD 104.41 as of Oct 21, 2026 23:01 WIB, showing a significant selloff consistent with the article's report. PDD also declined 3.49% to USD 78.78, while the KraneShares China Internet ETF fell 2.63% to USD 23.71, reflecting broad weakness in Chinese tech stocks on the platform. This aligns with the reported sharp declines despite gains in the broader U.S. market.
