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.....

This article is no longer available in our repository.

There could be multiple reasons for this.