PDD Holdings Inc

PDD Holdings (PDD) dropped 7.6% last week amid weak China retail data and concerns over profit quality, despite a strong cash position. July retail figures due Monday may add pressure.

Alibaba (BABA) rose 5.1% to $122.28 after a report linked its cloud infrastructure to Moonshot AI's chip acquisition, highlighting AI-cloud synergy. The stock is up 9% in five days.

Alibaba's stock gave back gains from its Qwen model launch, with weekly declines of 2.5% in the US and 4.3% in Hong Kong. Market attention is now on cloud margins.

Alibaba's Hong Kong shares plunged 5.4% after Beijing regulators questioned Taobao and Tmall's 618 festival subsidy claims, intensifying regulatory risk and margin worries.

PDD Holdings shares plunged 10.5% after first-quarter revenue and profit fell short of Wall Street forecasts, as rising costs and intense competition pressured the Temu and Pinduoduo parent.

China's securities regulator has ordered Tiger Brokers, Futu Securities, and Longbridge Securities to wind down unauthorized cross-border trading for mainland clients, citing illegal operations. Shares of Futu and UP Fintech plunged over 30% in U.S. premarket trading.

JD.com shares jumped 8.3% in Hong Kong as Q1 revenue and adjusted profit topped expectations, with retail margin expansion and reduced food-delivery losses offsetting a 53% net income drop.

Soybean futures recovered from early losses Friday. Separate analyses suggest Infinity Natural Resources and PDD Holdings are significantly undervalued. Baytex Energy reported a major 2025 loss.