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Alibaba shares fall in Hong Kong after review of its e-commerce and appointment of a new chief financial officer

December 22, 2021
Source: receive.news receive.news
News Snapshot:
Shares of Alibaba Group Holding fell in Hong Kong on Monday after the Chinese tech giant announced it would revamp its domestic and foreign e-commerce business and appoint a new monetary leader. The adjustments come as Alibaba faces headwinds on several fronts, increased competition, a slowing economy and regulatory repression. Alibaba’s inventory closed down 5. 6% in the Hang Seng index to HK$112. 70 ($14. 45), after past losses. On Friday, shares of U. S. -listed Chinese fell amid considerations of tighter regulatory oversight in the country following plans through Didi Global Inc. to withdraw from the New York Stock...
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