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What will be Alibaba's stock price range by the end of 2024?
2
Resolution / Starting Odds
Below HKD 100 • 25%
HKD 100 - HKD 150 • 25%
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Publicly available stock price data from financial news sources like Bloomberg, Yahoo Finance, etc.
Story
Alibaba Shares Surge 5% in Hong Kong on Plans to Increase Service Fees
Jul 29, 2024, 10:58 AM
Alibaba Group Holding Ltd. shares rose the most in two months as the company announced plans to earn more service fees from merchants. The stock climbed 5% in Hong Kong after the company revealed it will begin charging a 0.6% service fee on confirmed transactions for vendors on Tmall and Taobao, starting September 1. This move aligns Alibaba with competitors like Pinduoduo and JD.com, who already charge similar fees. The increase in service fees was confirmed by Bloomberg. The stock led gains in the Hang Seng Index (HSI).
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