Benzinga - by Anusuya Lahiri, Benzinga Editor. Alibaba Group Holding Limited (NYSE: BABA) stock is trading lower Thursday in line with the broader index KraneShares CSI China Internet ETF (NYSE: KWEB) as China's property crisis aggravated amid concerns about an imminent debt default by Country Garden Holdings. U.S.'s advanced artificial intelligence technology embargo on China and an intensifying Israel-Gaza war also weighed on market sentiment. Country Garden did not update its investors on the status of its debt servicing. A $15.4 million coupon on a $500 million bond went unaddressed, with the company remaining mum even after the 30-day grace period expired this week. The developer rejected rumors that some key founding family members had left the country, SCMP reports.