Alibaba's $10 bn buyback fails to halt stock dip as regulatory worry mounts

Topics Alibaba | Jack Ma | Ant Financial


By Yilei Sun and Julie Zhu BEIJING/HONG KONG (Reuters) - Alibaba shares slumped 9% to their lowest since June on Monday, as the firm's upsized $10 billion buyback programme failed to ease concerns about a regulatory crackdown on co-founder Jack Ma's e-commerce and financial empire.

A sharp sell-off over two sessions has knocked almost $116 billion off the tech giant's Hong Kong-listed shares. The downward spiral intensified when Chinese regulators announced on Thursday the launch of an antitrust investigation into.....

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