By Kimberly Chin
International stocks trading in New York closed lower on Thursday. The S&P/BNY Mellon index of American depositary receipts fell 0.6% to 163.83. The European index slipped 0.2% to 146.50. The Asian index declined 1% to 220.26. The Latin American index decreased 1.9% to 170.28. And the emerging-markets index fell 1.5% to 361.08.
Alibaba Group Holding Ltd.'s ADRs tumbled 11% on Thursday after the company slashed its growth expectations for this fiscal year, as Chinese consumers spend less in an increasingly competitive e-commerce market. The retail behemoth said it expects its fiscal 2022 revenue to increase by 20% to 23%, down from its forecast of about 30% in May.
Banco Bilbao Vizcaya Argentaria SA's ADRs fell 4.6% after the Spanish lender defended plans to increase its exposure to a volatile market. BBVA said it wants to continue being the best bank in Turkey, one of its main markets, as part of its new 2021-24 plan.
ADRs of JD.com Inc. rose 6% after the Chinese e-commerce company said revenue rose in the quarter. Consumers aged 45 years or above may have gone online later than 25- to 35-year-olds, but once they're acquainted with an e-commerce site, they shop, JD.com President Lei Xu says of the older demographic on a conference call.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
11-18-21 1906ET
