Alibaba Group Holding Ltd.-ADR BABA shares are trading lower Wednesday, following a decline that affected many U.S.-listed Chinese stocks. The downward movement in Alibaba's stock is primarily influenced by a broader market sentiment driven by recent developments concerning other major Chinese companies, such as PDD Holdings PDD, the parent company of Temu. What To Know: PDD Holdings recently released its second-quarter earnings report, revealing challenges and increased competition that could impact its near-term profits and future growth. This news triggered a sharp decline in PDD's stock, dropping more than 28%.