Hong Kong stock market anomaly | Alibaba-W (09988.HK) fell more than 3% in the afternoon, instant retail competition heating up, the company's short-term flash sale increased investment, profits may come under pressure.

According to the Chinese financial news app, Alibaba-W (09988.HK) fell more than 3% in the afternoon, with a decrease of 3.46% as of the time of writing, trading at 103.3 Hong Kong dollars, with a trading volume of 7.112 billion Hong Kong dollars.