STOCKS | Alibaba, BYD, Baidu Say U.S. Defense Department Listing Will Not Affect Business

Alibaba (9988), BYD (1211) and Baidu (9888) were added by the U.S. Defense Department to a list of entities said to support China’s military. According to Ming Pao, the companies issued statements around Hong Kong’s midday market close saying the U.S. move lacks proper justification and that being placed on the list will not affect their business operations.