Benzinga | Oct 26, 2021 02:01PM EDT

Why Alibaba Shares Are Falling

Shares of Chinese companies, including Alibaba Group Holding Ltd - ADR (NYSE:BABA), are trading lower amid concerns over the property sector as well as COVID-19 worries.

Chinese companies were also volatile in September as investors weighed the possible default of major China-based real estate company Evergrande Group.

Alibaba shares were otherwise trading higher last week after the company confirmed plans to develop an in-house processor that would be used to power its cloud computing business.

Alibaba operates China's most-visited online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer).

Alibaba has a 52-week high of $319.32 and a 52-week low of $138.43.