China Sees Healthy Inflation, Alibaba Leadership Reshuffle Goes Effective

Key News

Asian equities were mixed overnight as Hong Kong underperformed and Mainland China outperformed.

Alibaba’s leadership changes went effective today: Joe Tsai has assumed his new role as Executive Chairman and Eddie Wu has assumed his role as CEO. For more on this leadership reshuffle, please check out our latest Internet Report. Alibaba’s former CEO Daniel Zhang has announced that he will be leaving the company. For now, new CEO of the holding company Eddie Wu will also oversee the cloud intelligence group, which Mr. Zhang was supposed to run, in the interim. Rumor has it that Zhang will nonetheless continue to work with the holding company on innovative initiatives.