E-commerce US-listed shares of Alibaba Group Holding declined on Friday following a Morgan Stanley downgrade on concerns over slower turnaround in its key businesses, hours after PDD raced past its rival to become the most valuable Chinese e-commerce firm. Alibaba’s stock slipped 3.2 per cent to $72.5, touching a fresh one-year low. The shares are down nearly 17 per cent since the company last month posted in line second-quarter revenue and scrapped plans to spin off its cloud business. Meanwhile,…