Alibaba’s $10bn buyback plan fails to halt stock slide
Outcome of antitrust probe into Jack Ma’s business empire by Chinese regulators worries investors
28 December 2020 - 11:48
Beijing/Hong Kong — Alibaba shares slumped 9% to their lowest since June on Monday, as the firm’s $10bn 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 $116bn off the tech giant’s Hong Kong-listed shares...
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