Advertisement
New Zealand markets closed
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NZD/USD

    0.5987
    +0.0011 (+0.19%)
     
  • NZD/EUR

    0.5541
    +0.0008 (+0.14%)
     
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • ASX 200

    7,896.90
    +77.30 (+0.99%)
     
  • OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD

    2,254.80
    +16.40 (+0.73%)
     
  • NASDAQ

    18,254.69
    -26.15 (-0.14%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • Dow Jones

    39,807.37
    +47.29 (+0.12%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • NZD/JPY

    90.4830
    +0.0900 (+0.10%)
     

The Alibaba-Tencent Tit-for-Tat Continues

The Alibaba-Tencent Tit-for-Tat Continues

As the tit-for-tat game between Alibaba (BABA) and Tencent (TCEHY) continues, Tencent may have just accidentally made a move that increases the competition with Alibaba. In July, Alibaba won a contract to deliver coffee to Starbucks (SBUX) customers in China through its food delivery unit Ele.me. A month later, Tencent struck its own coffee delivery deal with China’s start-up coffee chain Luckin Coffee. Starbucks dominates the Chinese coffee drink market with an ~80% share compared to 5.2% for Luckin Coffee, according to Euromonitor and China Market Research Group estimates.