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Alibaba Group and Tencent lost $66B in market value within 24 hours as investors punished China’s tech giants for unclear AI monetization plans. Alibaba’s US shares fell most since October, Tencent its worst in a year. Heavy AI investments in data ce

2026-03-20

Alibaba Group and Tencent lost $66B in market value within 24 hours as investors punished China’s tech giants for unclear AI monetization plans. Alibaba’s US shares fell most since October, Tencent its worst in a year. Heavy AI investments in data centers, talent, and models worry investors amid a consumer downturn and Alibaba’s 67% quarterly net income drop. Analyst Catherine Lim notes markets await measurable revenue from AI via cloud, advertising, or transactions; without clarity, investor caution persists. US hyperscalers spend far more on AI.

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2026-03-20

The Russian central bank may consider cutting interest rates at its next meeting.

The Russian central bank may consider cutting interest rates at its next meeting.
2026-03-20

The Shanghai Composite Index fell more than 1% in the afternoon, the Shenzhen Component Index fluctuated and declined, almost turning negative, while the ChiNext Index rose more than 1.6%, with more than 4,500 stocks in the two markets closing in the

The Shanghai Composite Index fell more than 1% in the afternoon, the Shenzhen Component Index fluctuated and declined, almost turning negative, while the ChiNext Index rose more than 1.6%, with more than 4,500 stocks in the two markets closing in the red.
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