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Alibaba shares in Hong Kong tumble on China probe

The stock traded as low as HK$229.4. The Hang Seng Index was down 0.2%.

By: Reuters | Hong Kong | December 24, 2020 11:44:02 am
The Alibaba Group Holding Ltd. headquarters in Hangzhou, China. (Photographer: Qilai Shen/Bloomberg)

Shares of Alibaba Group plunged 7% on Thursday in early trading after Chinese regulators said they have launched an investigation into the company for suspected monopolistic behaviour.

The stock traded as low as HK$229.4. The Hang Seng Index was down 0.2%.

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