"Alibaba Group Holding Ltd. , China’s biggest e-commerce company, fell for a fourth day in New York, extending a retreat from its November high as the peak shopping season ended and investors await quarterly results expected next month."
JD.com Inc. (JD), China’s second-largest online shopping platform, and E-Commerce China Dangdang Inc. (DANG) also posted four-day declines.
Online sports-lottery operator 500.com Ltd. (WBAI) retreated after surging 27 percent in the previous two days. The Bloomberg China-US Equity Index slid 0.8 percent.
Alibaba, which raised a record $25 billion in a Sept. 18 initial public offering, climbed to $119.15, its highest ever, on Nov. 10, a day before China’s annual Singles’ Day online shopping event when sales surged to $9.3 billion.
Additional shares are expected to enter the market this year starting in March as lockup agreements preventing early investors from selling their stock expire.
Read more: “We have already passed the two biggest e-commerce holidays on Nov. 11 and Dec. 12, so in general people are viewing it as a time with limited catalysts,”