(Yicai Global) July 28 -- The share price of gargantuan e-commerce player Alibaba Group Holding Ltd. [NYSE:BABA] broke past USD155 per share yesterday afternoon to achieve a total market value of USD405 billion.

Alibaba's promotion of an unstaffed retail model, and its shift from e-commerce to digital entertainment, localized services and offline experiential retail all found favor with investors. 

Alibaba's chief financial officer Wu Wei earlier told investors that the group's earnings for fiscal year 2018 will see growth of "45 percent to 49 percent."

Nevertheless, as of yesterday's closing, Alibaba's share value had again subsided to within USD400 billion.