Hong Kong stock market anomaly | Alibaba-W (09988.HK) falls another 5% and is already halved from its high in October last year. External negative factors combined with lackluster performance during the 618 period are dragging down the stock price.

According to the Citic Securities APP, Alibaba-W (09988.HK) fell by over 5% again, hitting a low of HK$90.05 during intra-day trading, which is half of last year's peak of HK$185.17 in October. As of the time of writing, it has fallen by 5% to HK$90.25, with a trading volume of HK$4.876 billion.