US Stock Market Move | Denial of Investment Rumors DeepSeek Alibaba Group Holding Limited Sponsored ADR (BABA.US) pre-market gains narrowed to 3%

07/02/2025

GMT Eight

On Friday, Alibaba Group Holding Limited Sponsored ADR (BABA.US) saw its stock price rise over 7% in pre-market trading, but later reversed course and the increase narrowed to 3%, closing at $104.10. In terms of news, there were rumors in the market today that Alibaba Group Holding Limited Sponsored ADR plans to invest $1 billion in DeepSeek at a valuation of $10 billion, acquiring a 10% stake. In response, Alibaba Group Holding Limited Sponsored ADR stated that, both being companies based in Hangzhou, they applaud DeepSeek, but the information circulating about Alibaba's investment in DeepSeek is false.

Preview of US Stock Market | The U.S. non-farm payroll in January fell short of expectations, while the unemployment rate unexpectedly declined. Alibaba (BABA.US) denied rumors of investing in DeepSeek.

ASCENTAGE-B (06855): Partial exercise of the excess rights issue related to the issuance of American Depositary Shares

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US Stock Market Move | Denial of Investment Rumors DeepSeek Alibaba Group Holding Limited Sponsored ADR (BABA.US) pre-market gains narrowed to 3%

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