ZCZC
BCN-01
CHINA-HONGKONG-ECOMMERCE-ANTGROUP-IPO
Alibaba shares plunge 9.6% in Hong Kong after Ant IPO scrapped
HONG KONG, Nov 4, 2020 (BSS/AFP) – Shares of Chinese e-commerce giant Alibaba tumbled in Hong Kong on Wednesday following a shock decision by Chinese regulators to scrap the public listing of its spin-off financial tech company Ant Group.
As trading opened in Hong Kong, Alibaba’s stock price fell 9.61 percent to HK$271.00, following an eight percent tumble in the company’s share price overnight in New York.
BSS/AFP/MSY/0759 hrs