The Shanghai Composite Index declined by 1.6%, closing below 3,000 for the second time this week, Bloomberg reports.
The measure is down 16% so far this year, as investors worry about the slowing economy and about whether a weaker yuan will trigger capital outflows.
The economic slowdown is preventing companies' financial results from improving, with the industrial sector especially hard hit, Bloomberg notes.
"The old economy is still in the doldrums," Wang Chen, a partner with Xufunds Investment, told Bloomberg. "Unless the economy picks up the rest of the year, earnings won't see improvement."
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C-.
Alibaba's strengths such as its notable return on equity, robust revenue growth and largely solid financial position with reasonable debt levels by most measures are countered by the fact that the stock has had a generally disappointing performance in the past year.
You can view the full analysis from the report here: BABA
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.