Alibaba Group Holding (NYSE:BABA) shares are trading lower on Tuesday.
The shares of several Chinese companies are trading lower amid rising U.S.-China tech tensions after President Trump considered imposing export restrictions on Chinese chipmaker SMIC.
Alibaba is the world's largest online and mobile commerce company, measured by GMV (CNY 5.7 trillion/$846 billion for the fiscal year ended March 2019). It operates China's most-visited online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer). Alibaba's China marketplaces accounted for 68% of revenue in fiscal 2019, with Taobao generating revenue through advertising and other merchant data services and Tmall deriving revenue from commission fees.
Alibaba shares were trading down 3.85% at $270.55 in Tuesday’s session. The stock has a 52-week high of $299 and a 52-week low of $161.68.