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in Hong Kong, plummeted 27.42% in Thursday's intraday trading session. The steep decline came after e-commerce giant Alibaba Group agreed to sell its majority stake in SUNART RETAIL to Chinese private equity firm DCP Capital for HK$12.298 billion .The divestment by Alibaba is part of the company's broader strategy to reshuffle its business portfolio and focus on its core e-commerce operations. The market had anticipated this move after SUNART","market":"us","thumbnail":"","type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"en","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"-1","news_top_title":null,"news_tag":"movement","news_rank":0,"length":0,"strategy_id":0,"source":"ai_movement_en","symbols":["06808"],"gpt_icon":0},{"id":"2500961543","title":"BUZZ-Sun Art slumps most on record after Alibaba agrees to sell stake","url":"https://stock-news.laohu8.com/highlight/detail?id=2500961543","media":"Reuters","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2500961543?lang=en_us&edition=fundamental","pubTime":"2025-01-02 10:04","pubTimestamp":1735783478,"startTime":"0","endTime":"0","summary":"** Shares of hypermarket chain Sun Art Retail    slump as much as 35.5% to HK$1.60, on track for their biggest one-day pct drop since listing in 2011   ** Stock of Sun Art hits the lowest level since Sept. 24; third-biggest pct loser on the Hong Kong bourse   ** E-commerce giant Alibaba Group    said on  Wednesday it had agreed to sell its majority stake in Sun Art to Chinese private equity firm DCP Capital for HK$12.298 bln    ** Stake sale part of Alibaba's reshuffling of its business portfolio to focus on its core e-commerce operations   ** \"The market had expected the sale to happen after the announcement by Sun Art related to possible transactions back in Oct-24,\" Jefferies said in a note, adding that the sale of Sun Art aligned with strategies   ** Hong Kong shares of Alibaba slip 0.7%   ** The Hang Seng Commerce & Industry Index    falls 1.1%, the Hang Seng Consumption Index    eases 1% and the Hang Seng Index    drops 1.4%  ","market":"sh","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"en","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"-2","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["LU0823041008.USD","LU1323998911.USD","HK0000320223.HKD","HBBD.SI","09988","LU0737861772.HKD","LU0051755006.USD","LU0543330483.HKD","LU0345776255.USD","LU0348784397.USD","LU0251143458.SGD","LU1044874839.SGD","BK4122","LU0516423174.USD","06808","LU2097828805.USD","LU0127658192.USD","BABA","LU0315178854.USD","LU0244354667.USD","LU0396098781.USD","HK0000320264.USD","LU0214875030.USD","LU0541502299.USD","LU1282649141.HKD","LU0348788117.USD","LU0708995153.HKD","LU0605514214.HKD","LU0029875118.USD","LU1328277881.USD","LU0531970944.HKD","LU0828237940.HKD","LU1251922891.USD","LU0310800965.SGD","89988","LU1328615791.USD","LU1770036033.HKD","LU0348816934.USD","LU1548497426.USD","LU0577902538.SGD","LU0431992006.USD","LU0359202008.SGD","LU1642822792.SGD","LU0501845795.SGD","LU1720050803.USD","LU1568876335.HKD","BK1575","LU1993786604.SGD","LU0348783662.USD","BK4505"],"gpt_icon":1},{"id":"2500787965","title":"Shares of Sun Art  Extend Losses, Down More Than 30%","url":"https://stock-news.laohu8.com/highlight/detail?id=2500787965","media":"THOMSON REUTERS","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2500787965?lang=en_us&edition=fundamental","pubTime":"2025-01-02 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of Sun Art  Set to Open Down 14.9% After Alibaba Agrees to Sell Stake in the Hypermarket Chain to Dcp Capital","url":"https://stock-news.laohu8.com/highlight/detail?id=2500965679","media":"THOMSON REUTERS","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2500965679?lang=en_us&edition=fundamental","pubTime":"2025-01-02 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to Sell Stake in Chinese Hypermarket Operator","url":"https://stock-news.laohu8.com/highlight/detail?id=2500957199","media":"Dow Jones","labels":["shareholding"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2500957199?lang=en_us&edition=fundamental","pubTime":"2025-01-02 07:54","pubTimestamp":1735775640,"startTime":"0","endTime":"0","summary":"Alibaba Group has agreed to sell its shares in a Chinese hypermarket operator in a $1.7 billion deal, the latest divestment as part of the company's efforts to focus on its core e-commerce business.The company will sell its entire 78.7% stake in Hong Kong-listed Sun Art Retail Group to Chinese private-equity firm DCP Capital Partners for gross proceeds of up to $1.6 billion, Alibaba said Wednesday.Alibaba expects to book a divestment loss of nearly $1.8 billion based on the estimated fair value of the consideration receivable for the sale of shares.The e-commerce giant had bought a controlling stake in the hypermarket store operator in 2020 for $3.6 billion.In a filing to the Hong Kong exchange Wednesday, Sun Art said that the acquirer plans to delist the company and conduct a strategic review of the hypermarket operator's businesses.Once a Wall Street favorite and a leader in China's e-commerce, Alibaba is facing challenges in growing its revenue. The company is losing some of its mar","market":"nz","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"en","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"1","news_top_title":null,"news_tag":"shareholding","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["LU0164865239.USD","LU0261947096.USD","BK1517","LU0868486357.SGD","LU2399975544.HKD","BK4527","LU0244354667.USD","89988","LU1188198961.HKD","BK1584","LU0370786039.SGD","HK0000306701.USD","LU0417516902.SGD","LU0181495838.USD","LU0348825331.USD","BK1501","BK4538","BK4534","HBBD.SI","BABA","LU0052750758.USD","LU0828237510.HKD","LU1810669033.SGD","BK4526","LU0128522744.USD","LU0708995583.HKD","LU1008478684.HKD","LU1115378108.SGD","IE00BMPRXN33.USD","LU1303224171.USD","SG9999002463.SGD","IE0003895053.USD","LU0348805143.USD","LU0541501648.USD","LU1439103000.SGD","LU0589944569.HKD","LU0541502299.USD","LU0310800965.SGD","LU0823397285.USD","06808","IE00BZ08YR35.GBP","BK1502","SG9999001093.SGD","LU0029874905.USD","LU1242518857.USD","LU1993786604.SGD","LU2097828474.EUR","LU0127658192.USD","BK4535","09988"],"gpt_icon":1},{"id":"2500989346","title":"China's Alibaba to sell Sun Art stake to DCP for $1.6 billion","url":"https://stock-news.laohu8.com/highlight/detail?id=2500989346","media":"Reuters","labels":["shareholding"],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2500989346?lang=en_us&edition=fundamental","pubTime":"2025-01-01 20:06","pubTimestamp":1735733175,"startTime":"0","endTime":"0","summary":"BEIJING, Jan 1  - China's Alibaba Group Holding Ltd 9988.HK said on Wednesday it had agreed to sell its majority stake in hypermarket chain Sun Art Retail Group to Chinese private equity firm DCP Capital for HK$12.298 billion .The 78.7% share represents holdings held by Alibaba subsidiaries, according to a filing to the Hong Kong Stock Exchange. Alibaba paid $3.6 billion for a controlling stake in Sun Art in 2020 in the hope of further leveraging its digital presence to support Sun Art's hundreds of hypermarkets in China.The disposal of the stake comes after an 85% jump in Sun Art's shares in Hong Kong in the past year, which easily beat an around 20% rise in the main Hang Seng Index. The e-commerce giant is also selling its Chinese department store unit Intime even if it books a loss from the deal.The stake sales are part of Alibaba's reshuffling of its business portfolio to focus on its core e-commerce operations.  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Sun Art Retail Group Ltd   :   * AS AT NOV 14, CO HAS NOT RECEIVED FROM POTENTIAL OFFEROR ANY FIRM INTENTION TO PROCEED WITH POSSIBLE OFFER Further company coverage:    ((Reuters.Briefs@thomsonreuters.com;))","market":"sh","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"en","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["BK1501","BK1584","BK1177","06808"],"gpt_icon":0},{"id":"2483823065","title":"Sun Art Retail - as at Nov 14, Co Has Not Received From Potential Offeror Any Firm Intention to Proceed With Possible Offer","url":"https://stock-news.laohu8.com/highlight/detail?id=2483823065","media":"THOMSON REUTERS","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2483823065?lang=en_us&edition=fundamental","pubTime":"2024-11-14 17:29","pubTimestamp":1731576540,"startTime":"0","endTime":"0","summary":null,"market":"us","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"en","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241114:nFWN3ML02B:1","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"reuters_en_live","symbols":["BK1177","06808","BK1501","BK1584"],"gpt_icon":0},{"id":"2483982644","title":"Here's What's Concerning About Sun Art Retail Group's (HKG:6808) Returns On Capital","url":"https://stock-news.laohu8.com/highlight/detail?id=2483982644","media":"Simply Wall St.","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2483982644?lang=en_us&edition=fundamental","pubTime":"2024-11-14 09:03","pubTimestamp":1731546191,"startTime":"0","endTime":"0","summary":"If we're looking to avoid a business that is in decline, what are the trends that can warn us ahead of time? 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