Here's Why Alibaba Shares Are Falling

Shares of several Chinese companies, including Alibaba Group Holding Ltd - ADR BABA, are trading lower as investors digest recent economic data. Investors also continue to assess the economic impact of a surge in COVID cases in China.

According to CNN, at least 44 Chinese cities are under either a full or partial lockdown as authorities grapple with curbing the spread of COVID-19. Hong Kong confirmed 747 new coronavirus cases on Sunday as residents stepped out during the long-weekend Easter break after restrictions were eased.

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Alibaba is the world's largest online and mobile commerce company as measured by gross merchandise volume.

According to data from Benzinga Pro, Alibaba has a 52-week high of $245.09 and a 52-week low of $73.28.