Best Tax-Saving Investments for Senior Citizens in 2024 offer an appealing chance to reduce taxed income while building a retirement fund. As the Indian government continues to value the well-being of its older population, various tax benefits and investment schemes have been introduced to urge senior citizens to plan for their golden years. This thorough guide aims to provide an in-depth study of the top tax-saving options for senior citizens in 2024, allowing them to make informed decisions and maximize their retirement savings.

What are Tax-Saving Investments for Senior Citizens?

Tax-saving investments for older citizens refer to financial tools or schemes that offer tax discounts or exemptions on the spent amount or the returns created. These investments are primarily meant to provide tax benefits to people above a certain age, usually 60 or 65 years, allowing them to lower their total tax burden and boost their retirement savings. By investing in these tax-efficient choices, older citizens can enjoy a higher spending income and a more comfortable retired lifestyle.

Overview of the Top 10 Best Tax-Saving Investments for Senior Citizens 

Senior Citizens’ Saving Scheme (SCSS): 

Offered by the Indian government, SCSS is a popular financial choice for senior citizens, offering a set interest rate of 8.6% per annum (as of 2023) and tax benefits on the income made. The plan has a five-year term of 5 years, is renewed up to the age of 80, and allows for a maximum investment of Rs. 15 lakh.

Pradhan Mantri Vaya Vandana Yojana (PMVVY): 

This government-backed pension plan ensures regular income for older people aged 60 and above. Investors can receive payouts monthly, quarterly, half-yearly, or yearly, with the interest rate currently set at 8% per annum (as of 2023). The most significant spending limit is Rs. 15 lakh, and the plan offers tax benefits on the salary received.

Health Insurance Plans: 

Senior citizens can claim tax refunds on fees paid for health insurance plans under Section 80D of the Income Tax Act. This provides financial safety against medical costs while having tax benefits, making health insurance plans an attractive investment choice for seniors.

National Pension System (NPS): 

NPS is a voluntary retirement savings plan that offers tax benefits on payments made under Section 80C and Section 80CCD(1B) of the Income Tax Act. Senior citizens can continue adding to their NPS funds and enjoy tax-free growth and partial tax relief on payments, making it an attractive choice for building their retirement capital.

Public Provident Fund (PPF): 

While PPF is mainly aimed at paid people, older citizens can continue their current funds and enjoy tax rebates on the interest made under Section 10(11) of the Income Tax Act. Additionally, they can claim partial tax benefits on payments made under Section 80C, subject to certain boundaries.

Equity-Linked Savings Scheme (ELSS): 

ELSS mutual funds offer tax refunds on purchases up to Rs. 1.5 lakh per annum under Section 80C of the Income Tax Act. Senior citizens can gain from stock market growth while saving on taxes, making ELSS an attractive investment choice for those with a modest risk stomach.

Fixed savings (FDs): 

Senior citizens can receive better interest rates on fixed savings from banks and post offices compared to regular investors. The interest on these accounts is partly or wholly free from tax under Section 80TTB of the Income Tax Act, based on the investor’s age and total income.

Tax-Saving Bank Deposits: 

Certain bank deposits, such as the Older Citizen Savings Scheme (SCSS) and the 5-Year Tax-Saving Bank Deposits, offer tax benefits on the interest made, making them attractive choices for older citizens. These deposits usually provide higher interest rates than standard savings accounts and offer tax deductions under Section 80C or Section 10(15) of the Income Tax Act.

Post Office Monthly Income Scheme (POMIS): 

This scheme, which the Indian Postal Service implemented, gives older people a steady monthly income for 5 years. The interest made on POMIS is partly or wholly free from tax under Section 80C and Section 80TTB of the Income Tax Act, making it a tax-efficient investment choice for retirement.

Rajiv Gandhi Equity Savings Scheme (RGESS): 

RGESS is a tax-saving plan specially created for first-time users, including older citizens, with an annual income below Rs. 12 lakh. It offers tax discounts on purchases up to Rs. 50,000 in qualified stock and equity-linked assets under Section 80CCG of the Income Tax Act, allowing seniors to join the equity markets while getting tax benefits.

Factors to Consider Before Investing in Best Tax-Saving Investments for Senior Citizens

●    Investment horizon and liquidity needs: Senior citizens should consider their investment horizon and possible liquidity requirements, as some tax-saving investments may have lock-in periods or fines for premature exits.
●    Risk tolerance and investment objectives: Examining one’s risk appetite and investment goals is essential to deciding the proper mix of low-risk, moderate-risk, and high-risk options.
●    Expected returns and tax implications: Senior citizens should assess the expected returns of each investing choice and understand the related tax consequences, including rebates, exemptions, and relevant tax bands.
●    Lock-in periods and exit options: Some tax-saving investments may have lock-in periods, which can impact cash and should be considered based on individual needs.
●    Credibility and image of the investment provider: It is essential to invest in plans offered by respected financial institutions or government bodies to ensure the safety and security of investments.
●    Ease of investment and exit processes: Senior citizens should evaluate the ease of spending and removing funds, considering factors such as paperwork, accessibility, and customer service.
●    Inflation protection and growth potential: With growing life, it is essential to consider investments that offer inflation protection and the potential for capital gain to keep buying power.
●    Availability of additional benefits: Some investments, such as health insurance plans, may provide additional benefits beyond tax savings, which can be helpful for older people.

How to Invest in Best Tax-Saving Investments for Senior Citizens in ?

●    Assess your cash goals, risk appetite, and investment horizon: Evaluate your financial goals, risk tolerance, and the time frame for which you require the investments to produce profits.
●    Evaluate the different tax-saving investment choices and their qualifying criteria: Carefully review the investment choices mentioned in this article, determine which ones fit your financial goals, and meet the qualifying standards based on your age and income.
●    Consult with a financial advisor or tax professional for specific recommendations: Seek help from skilled professionals who can provide personalized advice based on your unique circumstances, considering your general economic situation, tax bills, and investment choices.
●    Gather the needed documents and finish the necessary formalities: Collect the required papers, such as name proofs, age proofs, and income statements, and follow the recommended processes to open or invest in the chosen tax-saving investment options.
●    Choose the financial option that fits your goals and spend the desired amount: After careful thought and professional help, select the most suitable tax-saving investment choice and pay the desired amount, sticking to any relevant investment limits or restrictions.
●    Monitir and review your investments regularly: Regularly watch the success of your investments and review them periodically to ensure they continue to match your changing needs and financial circumstances. Make necessary changes or rebalance your assets to improve returns and tax efficiency.

Conclusion

As older citizens handle the golden years of their lives, investing in tax-efficient tools becomes critical to maximizing retirement savings and ensuring financial security. The Best Tax-Saving Investments for Senior Citizens in 2024 offer various choices, catering to different risk types, investment plans, and financial goals. By carefully examining these financial options and getting professional advice, older citizens can make informed choices, reduce their tax responsibilities, and enjoy a happy retirement.
From government-backed schemes like the Senior Citizens’ Saving Scheme (SCSS) and Pradhan Mantri Vaya Vandana Yojana (PMVVY) to market-linked instruments such as Equity-Linked Savings Schemes (ELSS) and the National Pension System (NPS), senior citizens have a wide array of choices to build a tax-efficient retirement portfolio. Additionally, choices like health insurance plans, tax-saving bank savings, and post office monthly income schemes provide financial protection and tax benefits, ensuring a complete approach to retirement planning.
It is crucial to regularly review and adjust your investment portfolio to line with changing market conditions and personal financial circumstances. Seeking professional help from financial advisors and tax experts can further assist in managing the difficulties of tax rules and finding the most suitable investing strategies.
By taking a proactive approach and utilizing the tax-saving opportunities available, senior citizens can protect their financial future, maximize their retirement savings, and enjoy a secure and wealthy golden age.

Disclaimer:
Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

The Bitget Protection Fund, valued at $465 million in April 2024, underscores the platform’s commitment to user security.

Bitget, a leading cryptocurrency exchange and Web3 company, announces the updated valuation of its Protection Fund for April 2024, reaching a peak of $465 million on April 8th and maintaining an average monthly valuation of $428 million. This demonstrates Bitget’s steadfast commitment to fortifying user security and protecting digital assets, with the Protection Fund serving as a cornerstone of the platform’s user-centric approach since August 2022.

Steadfast Support Amid Market Dynamics

Throughout April, Bitget’s Protection Fund remained stable, propelled by market trends and BTC valuation, with an average monthly valuation surpassing the company’s commitment of $300 million pledged in October 2022. Despite a temporary exclusion of USDT storage from the fund to facilitate ecosystem growth, the Protection Fund retains a substantial reserve of 6,500 BTC.

Agile Responses to Emerging Challenges

Employing a self-insured reserve model, Bitget’s Protection Fund operates independently, enabling agile responses to emerging challenges. This autonomy allows the fund to swiftly reallocate resources to mitigate risks and safeguard user assets during turbulent market conditions or unforeseen events, ensuring robust protection against adversities.

Commitment to Transparency and Security

Gracy Chen, Managing Director at Bitget, underscores the platform’s unwavering commitment to security, emphasizing the importance of maintaining the fund valuation above $300 million. Bitget prioritizes transparency by providing verifiable Proof of Reserves data and offering users unrestricted access to comprehensive fund storage information, solidifying its position as a trusted leader in the cryptocurrency exchange industry.

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Salaried people often face the challenge of matching their daily costs with the need to build a strong investment account. Mutual funds provide a handy and flexible option, allowing investors to give small amounts regularly and benefit from the growing effect of returns over time. By investing in a well-diversified group of securities, mutual funds minimize the risks connected with individual stock purchases, making them attractive for paid people wanting long-term wealth building.

Overview of Top 10 Mutual Funds for Salaried Individuals

Axis Bluechip Fund 

This large-cap equity fund aims to provide long-term capital growth by investing in diverse bluechip companies with a strong track record and lasting competitive benefits. The fund is perfect for paid people wanting exposure to known and stable companies.

Mirae Asset Large Cap Fund

Focused on investing in large-cap companies with solid foundations and growth prospects, this fund gives paid people a chance to share in the growth of India’s top corporations. Its strict investment method and skilled fund management team make it a desirable choice.

ICICI Prudential Balanced Advantage Fund

This dynamic asset allocation fund tries to strike a mix between stock and loan investments, giving paid people the potential for capital growth while controlling risk. Its ability to change asset allocation based on market conditions makes it suitable for those seeking modest risk and reliable results.

Parag Parikh Flexi Cap Fund

This fund takes a value investing method, buying across market capitalizations and industries. With a focus on finding cheap companies with solid foundations, this fund offers paid people the chance to benefit from long-term wealth building.

SBI Small Cap Fund

For paid people with a higher risk appetite and a long-term financial plan, this small-cap fund offers exposure to growing companies with prospects for substantial growth. Its diverse portfolio and skilled fund management team hope to capitalize on the growth possibilities in the small-cap section.

Kotak Emerging Equity Fund

This fund works on dealing in mid-cap and small-cap companies with strong growth potential. Salaried people looking to share in the possible upside of new businesses can consider this fund as part of their financial strategy.

UTI Nifty Index Fund

As an index fund, this choice tracks the success of the Nifty 50 index, giving paid people a low-cost and passive investment strategy. It is ideal for those wanting broad market exposure and long-term wealth building through diversity.

HDFC Hybrid Equity Fund

This hybrid fund mixes equity and debt investments, giving salespeople the potential for capital growth while providing a cushion against market instability. Its dynamic asset selection approach aims to create stable results across market cycles.

Invesco India Counter Fund

This counter fund uses a contrarian investment method, buying in stocks that are cheap or out of favor but have firm foundations. Salaried people with a modest to high-risk mindset can consider this fund for wealth-building possibilities.

Quant Active Fund

This actively managed fund uses mathematical models and algorithms to find financial possibilities across market capitalizations. With its focus on data-driven decision-making, this fund offers paid people a unique investment method driven by cutting-edge technology.

Performance of top Mutual Funds for Salaried Individuals 

Factors to Consider While Investing in Mutual Funds for Salaried Individuals in 2024

●    Investment Horizon: Salaried people should properly consider their investment plan and match their mutual fund choices. Funds with a higher stock exposure may be more suitable for those with a more extended investment plan, while debt or mixed funds may be more appropriate for shorter time frames.
●    Risk Tolerance: Understanding one’s risk appetite is essential when choosing mutual funds. Equity funds tend to be more unpredictable but offer higher growth potential, while debt funds are usually more steady but with lower yields.
●    Diversification: Keeping a well-diversified portfolio by investing in a mix of stock, debt, and hybrid funds across different industries and market capitalizations is essential. Diversification helps reduce risk and improves total financial stability.
●    Investment Objective: Salaried people should clearly describe their investment goals, whether it’s wealth building, retirement planning, or meeting specific financial milestones. Different mutual fund types match different investment goals, making it crucial to choose funds appropriately.
●    Expense Ratio: The expense ratio, which reflects the yearly fees paid by the fund, can significantly impact long-term profits. Salaried people should compare price rates across funds and opt for cost-effective choices to maximize their investment results.

How to Invest in Mutual Funds as a Salaried Individual?

Step 1: Assess your cash goals, risk tolerance, and investing timeline.
Step 2: Research and assess different mutual fund choices based on their financial theory, success, and cost rates.
Step 3: Open a demat and trade accounts with a reliable exchange or mutual fund site.
Step 4: Decide the investment amount and consider setting up a Systematic Investment Plan (SIP) for regular payments.
Step 5: Select and put in the chosen mutual funds through lump-sum purchases or SIPs.
Step 6: Monitor the success of your investments periodically and adjust your portfolio as needed.

Conclusion

For paid people in India, investment in mutual funds can be a powerful tool for building long-term wealth and achieving financial protection. By carefully examining the top mutual funds for 2024 and considering factors such as investment timeline, risk tolerance, and diversification, paid people can build a well-balanced strategy tailored to their unique needs. With the direction of financial experts and a focused approach, paid people can unlock the potential of mutual fund investments and pave the way for a safe economic future.

Disclaimer:
Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

The Coney has unveiled specifics of the $3 billion integrated resort casino it seeks to build in New York City by way of southwestern Brooklyn.

A project from a consortium consisting of Saratoga Casino Holdings, the Chickasaw Nation’s Global Gaming Solutions, Legends Hospitality Group, and Thor Equities, The Coney targets five acres of land in Coney Island at Surf and Stillwell avenues. The blueprint includes a 500-room hotel, a 2,500-seat concert venue, over a dozen restaurants and bars, 90,000 square feet of meeting space, and a “world-class gaming facility.”

In unveiling the details of the proposed casino destination, the developers pledged to include “dedicated locations” inside the resort for locally owned businesses and to hire “thousands” of people with a preference given to area residents. The Coney would also feature more than an acre of publicly accessible open space along the famed Boardwalk.

For two years we have been speaking with the residents of Coney Island and Southern Brooklyn about the need for a project that creates careers, supports local businesses, and centers entertainment around the idea of a playground that is truly accessible to the people,” Sam Gerrity, CEO of Saratoga Casino Holdings, said in a release. “We have heard time and time again that Coney Island needs a project that provides year-round economic support while also lifting up the infrastructure in one of the most densely traveled areas of the community.”

The Coney will do just that, Gerrity said.

“Situated in the middle of a preexisting entertainment district steps away from one of NYC’s most iconic historical landmarks, The Coney just makes sense,” Gerrity added in reference to the nearby Cyclone roller coaster and Wonder Wheel Ferris wheel.

Bidding Pool

The Coney is one of several projects in the casino race for the three gaming licenses earmarked for the downstate region. The New York Gaming Facility Location Board is expected to decide next year which three bids will receive the coveted gaming licenses that come with a hefty $500 million fee.

Many gaming analysts believe two of the concessions are already spoken for by MGM Resorts and Genting. Those firms respectively own and operate Empire City Casino in Yonkers and Resorts World New York City in Queens. The properties currently can only offer slot-like video lottery terminals and electronic table games.

Casino Mystery

The Coney’s casino seems to be an afterthought in the blueprint presentation. While specific details including approximate square footage for the hotel, convention, entertainment, and food and beverage spaces are detailed, nothing about what the casino would encompass was described.

The Coney says it has secured the support of more than 10K area residents via signature canvassing.

“The Coney will create a year-round economic engine that will provide thousands of jobs for local residents and will eliminate the seasonal ebbs and flows that have long plagued the local business community,” The Coney release concluded.

Virginia’s three operational casinos – Hard Rock Hotel & Casino Temporary Bristol, Rivers Casino Portsmouth, and Caesars Virginia – combined to generate over $60.1 million in adjusted gaming revenue and $10. 8 million in gaming tax revenue in April, according to data released by the Virginia Lottery.

Rivers Casino Portsmouth emerged as the top performer, generating $26.4 million in revenue. Virginia’s first permanent casino, which opened its doors in January 2023, boasts 1,466 slot machines and 81 table games. While slot machines brought in $18.4 million, the table games earned $8.01 million. More than $1.5 million in gaming tax will be remitted back to the host city. 

Caesars Virginia, with its temporary facility in Danville operational since May 2023, reported $19.7 million in total revenue comprising $14.4 million in revenue from its 808 slots and $5.2 million from its 33 table games. Its permanent resort casino is slated to open late this year. More than $1.1 million will come back to the city of Danville. 

Hard Rock Hotel & Casino Temporary Bristol, operating since July 2022, reported $13.94 million in revenue for April. Virginia’s first casino generated about $11.03 million from its 911 slots and $2.91 million from its 29 table games. About $836,679 will be remitted back to the host city. 

All three casinos reported less income in April than in March. Portsmouth reported $27.7 million in March, Caesars Virginia reported over $21 million, and Bristol $16.2 million. As a consequence, state gaming tax revenue was $10.82 million, about $1 million less than the previous month.

The casino industry in Virginia continues to expand, with the ongoing construction of the permanent Caesars Virginia and Hard Rock Hotel & Casino Bristol underway. Moreover, plans for future developments, including the $500 million HeadWaters Resort & Casino in Norfolk, indicate further growth prospects for the state’s gaming sector.

Last month, Virginia’s city of Petersburg was added to the list of places eligible for a casino. SB 628, sponsored by Senator Lashrecse Aird, was passed 80-19 with an amendment that removes the reenactment clause. This means the General Assembly opened a path for residents to vote on a referendum to have casino gaming in the city as soon as this November. Later that same month, Petersburg unanimously chose The Cordish Companies to build a casino should voters approve the move in a referendum. 

The Cordish project is expected to generate billions of dollars in economic benefits and spinoff development, create thousands of new jobs and benefits to the local community, and become a major new tourist destination for the City and the Central Virginia region, the company said in a statement. 

The proposed site is situated at the intersection of Wagner Road and Interstate I-95 with easy access on and off the East Coast’s major north-south interstate. The parties propose to open an initial first-phase casino within a year. 

When it comes to entertainment and commerce, very few sectors have enjoyed such a meteoric rise to the top of the growth charts, like the online gambling industry, where the two have come together seamlessly. Over the past ten years, the online gambling industry has undergone a digital revolution, changing how people play these games of chance and skill, allowing the industry to reach never-before-seen heights. According to recent reports, the online gambling market will be worth a colossal $35 billion by 2029, making it one of the most lucrative spaces in the world. This article looks at how this could happen, what this could mean for the wider gambling industry, and what the key motivating factors might be.

Technology is advancing rapidly, which bodes well for the online entertainment and gambling industry, especially those seeking more immersive experiences. With smartphones becoming a mainstay in our pockets and high-speed internet more accessible than ever, consumers have instant access to online platforms, such as the BetMGM Online Casino, where they can play various games.

This becomes even more gripping when we consider virtual reality (VR) and augmented reality (AR) technologies, which have the potential to blur the lines between the virtual and physical worlds and further elevate the online gambling experience. Once this technology becomes more mainstream, we expect to see more casinos integrate it, which could replace (or at least extend the reach of) traditional brick-and-mortar casinos.

With artificial intelligence (AI) and machine learning algorithms becoming more powerful with each passing day, we expect players to be able to play again in the house without ever knowing — bots are likely to have unique, human-like personalities. If all of this can come together and casinos can find the perfect balance, this could go a long way in ensuring that the online gambling industry will meet that $35 billion market value by 2029.

Regulatory Changes and Market Expansion

Another critical factor that can’t be overlooked when forecasting the growth of the online gambling industry is the ever-changing regulatory environment, which will be crucial to market expansion and diversification. This is a relatively new phenomenon, so governments have been slow to introduce restrictive legislation, which has benefited online casinos and betting shops.

However, in recent years, many governments worldwide have started to recognize the economic potential of legalizing and regulating online gambling, which has led to a wave of reforms aimed at legitimizing the industry while safeguarding consumers. There’s still a long way to go, and there needs to be greater protections in place for consumers, but finding the right balance is essential for continued, sustainable growth.

In the United States, which is a pivotal market when it comes to online gambling, we are seeing sports betting, in particular, become more commonplace after decades of regulation and blacklisting. What was once outlawed due to fears of corruption has become a mainstay in sports arenas and college campuses, allowing the likes of DraftKings and Fanatics to become household names relatively quickly.

Shifting Consumer Behaviors and Demographics

Fast-changing consumer demographics in the United States will play a vital role in the trajectory of the online gambling industry, and while much of this is still unknown, there are some insights we can gain from current trends. 

We know that Gen Z is less competitive when playing games, as seen with the new version of Scrabble, and they’re more likely to play on their mobile phones instead of desktop.

The pandemic accelerated this preference for online experience because we were forced to opt for this, so when things opened up again, people were happy sticking with what they’d been doing for the past few years. According to Survation, as reported in The Guardian, gambling did not suffer a dip during the lockdowns despite the lack of real-world sports, suggesting a shift to chance-based online casino games. 

We are seeing online gambling become a daily fixture in our lives. From television and online video ads to sponsorships on sports jerseys, it’s become a mainstay in modern culture. 

Gambling is becoming more socially acceptable in most parts of society, appealing to both casual players and seasoned professionals, which is largely thanks to its increased accessibility. Overall, the online gambling market now caters to a diverse audience spanning various age groups and socio-economic backgrounds, which will help the market reach a value of $35 billion by 2029.

Embracing the Future of Online Gambling

As we continue on our path toward a more digital age, the online gambling industry looks set for a period of unprecedented growth and innovation. While many fluctuating factors influence this outcome, it is a real possibility and has the potential to change how we play forever. From technological advancements to shifting consumer sentiment toward gambling, this is a fascinating time for the wider gambling industry.

Alibaba stock held a 6% gain in afternoon trading Thursday, helped by a revenue beat from JD.com (JD). Alibaba stock is back above a key support level, but is BABA stock a buy now?

Chinese online retailer JD.com isn’t the growth engine it once was, but investors liked the fact that earnings and revenue growth accelerated slightly from the prior quarter, up 13% and 2%, respectively.

Sellers hits Alibaba (BABA) hard Tuesday despite a slight revenue beat, although buyers pushed the stock well of lows by the close.

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On an adjusted basis, Alibaba earned $1.40 a share, down 10% year over year. Revenue edged higher by 1% to $30.7 billion.

Alibaba also announced a two-part dividend. It includes an annual cash dividend of $1 per American depository share and a “one-time extraordinary cash dividend” of 66 cents per ADS. The total dividend will cost $4 billion, the company said.

In late March, Alibaba abandoned plans to list its logistics arm in Hong Kong, but the news didn’t do anything to lift Alibaba stock out of its downtrend.

Alibaba hoped the listing of its Cainiao Smart Logistics Network would raise $1 billion at a minimum. But Alibaba pulled the listing, citing overall weakness in the Hong Kong stock market.

The cancellation of the listing poses more challenges to a restructuring plan announced last year by Alibaba, which would’ve split the e-commerce giant into six separate companies.

Not that long ago, Alibaba abandoned plans to spin off its cloud computing unit. It also delayed a listing of its Freshippo grocery unit.

In early November 2020, Chinese authorities suspended the $34.5 billion Ant Group IPO in Shanghai and Hong Kong. Ant Group is the fintech arm of Alibaba.

Recent Earnings

BABA stock rallied sharply on Feb. 6 after the company reported fiscal Q3 revenue of $36.7 billion, up 2% from the year-ago quarter and slightly above the $36.16 billion consensus. But adjusted profit fell 4% to $2.67 a a share.

Investors also liked the fact that Alibaba added $25 billion to its share buyback program through March 2027.

Three months earlier, Alibaba stock plunged in mid-November despite reporting an 18% rise in quarterly profit and 6% increase in revenue.

BABA stock surged on Jan. 23 on reports that co-founder Jack Ma and business associate Joe Tsai have been buying shares of BABA stock in recent months.

According to an SEC filing, Tsai purchased $151 million in Alibaba stock in the fourth quarter via his Blue Pool Management family fund. Ma, meanwhile, bought $50 million worth of Alibaba stock. Ma stepped down as the company’s chairman in 2019 and remains a big shareholder.

Alibaba came under selling pressure on Sept. 11 after outgoing CEO Daniel Zhang unexpectedly stepped down as head of the company’ cloud business.

The company said in June that Zhang was departing as chairman and CEO of the company to focus on Alibaba’s cloud intelligence unit. In May, Alibaba announced plans to spin off its cloud business as a separate, publicly traded company.

In December, the company said that CEO Eddie Wu would take over the company’s struggling e-commerce business.

Alibaba Stock News

Alibaba stock soared above its 200-day moving average on July 7 after Chinese regulators fined Alibaba’s financial arm, Ant Group, just under $1 billion.

Chinese regulators halted Ant Group’s IPO in late 2020 for not meeting listing requirements. In April 2021, regulators hit Alibaba with $2.8 billion fine in an anti-monopoly probe. But after three years of regulatory scrutiny, optimism is building that Beijing is close to ending its crackdown on tech firms.

In March 2023, Alibaba announced plans to separate into six separate units.

The company said each business will have the ability raise outside funding and even pursue an IPO. According to report, the company would likely hold on to its cloud/artificial intelligence business and its giant e-commerce operations.

• Cloud Intelligence
• Taobao Tmall Commerce
• Local Services
• Cainiao Smart Logistics
• Global Digital Commerce
• Digital Media and Entertainment

China/U.S. Relations

Sentiment was weak around Chinese stocks in October after the Biden administration announced new restrictions on China’s access to U.S. semiconductor technology, including restrictions on the exports of some types of chips used in supercomputing and artificial intelligence. It also imposed tighter rules on the sale of chip equipment to China.

Alibaba stock rallied sharply in late August last year on reports that Beijing and U.S. regulators were close to an audit-inspection deal.

Increased regulatory scrutiny has weighed on Alibaba and other Chinese stocks for the past couple of years. Besides a strict regulatory environment, Chinese stocks have also been dealing with a slowing economy.

In April 2020, China regulators fined Alibaba $2.8 billion after an antimonopoly probe. At the time, it looked like BABA stock was ready to break out of a downtrend. But the stock got turned away at its 50-day moving average. It tried to rally above the 50-day line again in late April but sellers knocked the stock lower again.

Alibaba Stock Fundamental Analysis

The company has a five-year annualized earnings growth rate of 6%, although fundamentals have weakened considerably in recent quarters.

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Alibaba’s Composite Rating of 67 (on a scale of 1-99 with 99 being the best) is lukewarm and is hurt by soft fundamentals and weak 12-month price performance.

But annual return on equity of 14% helps give Alibaba a respectable SMR Rating (sales + margins + return on equity) of B from IBD Stock Checkup (on an A-to-E scale with A tops).

The Stock Checkup tool quickly identifies group leaders based on a combination of fundamental and technical factors.

Stock Market ETF Strategy And How To Invest

According to Zacks, Alibaba is expected to earn $7.98 a share in its current fiscal year 2025, down 7% compared to fiscal 2024. For fiscal 2026, earnings are expected to rise 14% to $9.07 a share.

Click here to the top-rated stocks in the group.

Alibaba Stock Technical Analysis

Alibaba’s relative strength line started to swing higher when the stock bottomed in the second half of April.

A stock’s relative strength line, found in daily and weekly charts at Investors.com, compares the stock’s daily price performance to the S&P 500. An upward-sloping RS line means the stock is outperforming the S&P 500. A downward-sloping line means the stock is lagging the S&P 500.

Alibaba’s Accumulation/Distribution Rating is solid at B+. The rating is helped by several higher-volume gains in recent weeks.

BABA Stock: Is It A Buy Now?

Overhead supply issues were a concern for Alibaba stock when the stock was more than 30% off its high. Now Alibaba stock is back above all of its key moving averages

Alibaba stock gapped above its 50-day line on Nov. 15 and closed near its session high on a strong day overall for Chinese stocks. Normally, it would’ve been a buy signal but BABA’s 200-day moving average at the time around 89.50 was a potential resistance level to watch.

Alibaba stock struggled to make progress after climbing off lows in January. But buyers pushed the stock sharply higher ahead of its fiscal Q4 report.

Buyers pushed Alibaba off lows Tuesday, resulting in a strong close for a down session. With Alibaba holding above its 200-day moving average, and the stock market on a confirmed uptrend, Alibaba is actionable now.

Follow Ken Shreve on Twitter at @IBD_KShreve for more market insight and analysis right now.

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The euro has bounced more aggressively than gold against the dollar since the middle of last month as economic conditions and, possibly, rates in the EU and USA show more signs of converging. Eurozone-wide annual headline inflation has been 2.4% for two months running and seems likely to remain below 3% for the rest of the year barring significant surprising circumstances.

The upward movement gained significant momentum on 15 May but the price has now moved into overbought based on the slow stochastic. With a new high having been reached around $1.09, there’s the possibility that this might be a new uptrend. However, to trade on this basis would probably mean waiting for a higher low both for confirmation of the possible uptrend and to reduce the risk associated with entering around a five-week high. Buyers would also probably look for neutral signals from Bands and the stochastic and increasing volume of buying before committing themselves.

The death cross of the 50 SMA below the 200 might be ignored given the fundamental situation and recent candlesticks, but this value area could be important if there’s a retracement lower over the next few days. $1.10 is an obvious candidate for the next key resistance while a move back below $1.075 seems unlikely unless there’s a major driver from news. Final eurozone-wide inflation at 9.00 GMT on 17 May is unlikely to be surprising, so the next major release for the euro is German GDP on Friday 24 May.

This article was submitted by Michael Stark, an analyst at Exness.

The opinions in this article are personal to the writer. They do not reflect those of Exness or FX Empire.