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Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15%...

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RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03...

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GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after...

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Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading...
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Alibaba Group (NYSE: BABA) Shares Sink as Beijing Launches New Attack on Micron (NASDAQ: MU) – Analysts

Shares of Alibaba Group Holding Ltd (NYSE: BABA) plunges over 1.15% in pre trading session on Monday as stock watchers are comforted by the rebound in Alibaba Group Holding as evidence that Beijing’s regulatory campaign is done. Because Beijing’s inquiry into Micron Technology (NASDAQ: MU) memory chips has opened a new front in the US-China tech conflict, this could not immediately result in a reduction in the risk premium in the Chinese stock market.

In reaction to US export restrictions on cutting-edge chips and equipment, China this week initiated a cybersecurity inquiry into the domestic sales of the US memory chip manufacturer. This is the first time China has targeted a US corporation. The battle might derail the positive mood brought on by Alibaba’s internal business restructuring.

The market value of US$84 billion that investors have put into Alibaba’s shares in Hong Kong and New York in response to the announcement, as well as the US$3 billion or more in inflows that money managers made into the southbound and northbound channels of the Stock Connect last week, is at danger.

Brock Silvers, managing director at Kaiyuan Capital in Hong Kong, said that China’s vague “probe” into Micron “sends a strong message to Washington that additional tech curbs would come at a major cost.” “Therefore, China’s move against Micron signifies its transition from a containment to a retribution approach. The market should anticipate that the tech war has not yet reached its lowest point because both parties appear to be behaving rationally and firmly.”

Micron’s stock fell 4.4% on Friday in New York. The business stated that it is in contact with the Chinese authority and “cooperating completely” in an email response to the Post on Monday.

According to the statement, “Micron is committed to doing all business with unwavering honesty, and we stand behind the security of our goods and our pledges to clients.”

The US-China geopolitical tensions, which have been simmering for years and have taken many different forms, including state surveillance, data security, and access to cutting-edge semiconductor technology and equipment, are only one aspect of the digital war. China sees US export restrictions as an effort to slow down its development.

As investors applauded rival JD.com’s spin-off and listing plans and welcomed Alibaba’s internal business reorganization, the Micron scandal casts a pall over generally optimistic mood around Chinese equities. The three-week winning streak was the longest since January for the Hang Seng Index.

“There can be a situation where the components are more significant than the total from a commercial perspective,” said Wang Yan, chief China analyst at Montreal-based Alpine Macro. In terms of regulation, Alibaba may utilize this to resolve Beijing’s monopolistic fears.

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Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on Tuesday as Wall Street's major indices experienced a tumultuous day, driven by Oracle's staggering 12.5%...

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