BABA.BA is trading 2.1% down today at $17380.00 following reports that Alibaba is preparing to sell its gaming arm, Lingxi Games, for an estimated RMB 7–9 billion.
- The potential divestment comes amid ongoing portfolio streamlining and continued selling pressure across the broader Hong Kong technology sector.
- Sentiment remains cautious due to recent net outflows from mainland investors, despite the company maintaining solid fundamentals in its core e-commerce and cloud businesses.