Alibaba Shares Plummet as Tech Sector Selloff Continues

Alibaba's stock price is plummeting after the company announced plans to raise approximately HK$80 billion ($10.2 billion) through a share sale. The tech and chip sectors are experiencing a broader selloff globally, contributing to Alibaba's decline.

The share placement is expected to dilute earnings in the near term, but analysts suggest that this impact will be limited if Alibaba can improve its AI payoffs. The company aims to drive growth through AI-led initiatives.

SoftBank is also making headlines with plans for a record ¥1 trillion retail bond sale to raise funds for its investment commitments to OpenAI. Meanwhile, Bitcoin continues its rally, with spot exchange-traded funds experiencing their strongest weekly inflow in 10 months last week.