Alibaba shares fell in Hong Kong and the US trading session lasted several hours when a report emerged that the Chinese government was conducting an anti-monopoly investigation into the tech company.
According to the Chinese National Administration, it has opened an investigation into Alibaba on monopoly practices. Based on the report, the main issue raised is the practice that forces traders to choose one of the 2 platforms, rather than being able to work with both.
Alibaba, meanwhile, has confirmed that the investigation has been carried out but its business operations are still running as usual.
As a result, Hong Kong-listed Alibaba shares fell more than 8% on Thursday in the final trading session while their shares traded in New York declined more than 3% in last Wednesday's trading session.
