Shares in Chinese giant Alibaba fell nearly 11 percent in Hong Kong trading on November 19, according to the trade data.

The shares fell against the background of the release of the company’s quarterly report, which reflected a serious decline in profits – by 87 percent, to $524 million. Meanwhile, revenue increased by 29 percent, to 31.1 billion. Annual revenue, according to forecasts of the company, should grow by 20-23 percent, which is below analysts’ forecasts.