BABA(US:BABA) Xin Hua Cai Jing·2025-08-30 01:21Market Overview - The U.S. stock market experienced a collective decline on August 30, 2023, primarily driven by a drop in technology stocks led by Nvidia, with the Nasdaq index falling over 1% [1] - Closing figures showed the Dow Jones Industrial Average down 0.20% at 45,544.88 points, the S&P 500 down 0.64% at 6,460.26 points, and the Nasdaq down 1.15% at 21,455.55 points [1][2] - For the week, the Dow Jones decreased by 0.19%, the S&P 500 by 0.1%, and the Nasdaq by 0.19%, while in August, the Dow Jones rose by 3.2%, the S&P 500 by 1.91%, and the Nasdaq by 1.58% [1] Technology Sector Performance - Major U.S. tech stocks saw significant declines, with Tesla and Nvidia dropping over 3%, while Facebook and Amazon fell more than 1%. Microsoft and Apple experienced slight decreases [2] - In contrast, the Nasdaq China Golden Dragon Index increased by 1.55%, indicating a divergence in performance between U.S. tech stocks and Chinese tech stocks [2] Alibaba Financial Results - Alibaba Group reported its Q1 FY2026 earnings, with revenue reaching RMB 247.65 billion, a year-on-year increase of 2%. Excluding disposed businesses, the revenue growth would be 10% [3] - The net profit for the quarter was RMB 42.38 billion, reflecting a substantial year-on-year growth of 76% [3] - The company highlighted rapid progress in its instant retail business, which contributed to a 25% year-on-year increase in monthly active consumers on the Taobao app in the first three weeks of August [3]