Alibaba’s $25 Billion Buyback Fails to Assuage Nervous Investors

(Bloomberg) — Alibaba Group Holding Ltd. green-lit another $25 billion in stock repurchases, aiming to reassure investors worried about plateauing growth at a Chinese e-commerce and cloud pioneer struggling to fend off new rivals such as PDD Holdings Inc.

The internet company’s board approved the expansion of an existing buyback program already one of China’s largest, encompassing about $9.5 billion last year alone. But its shares fell more than 4%, giving up an initial spurt in part because investors remain concerned about crumbling Chinese consumption and a drop in per-user spending.