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Alibaba Warns of Higher Taxes as China Crackdown Widens
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Alibaba said to warn of higher taxes as China crackdown widens
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Alibaba warns of higher taxes - Taipei Times
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JD com Slides After E-Commerce Giant Signals Spending Spree
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By Chong Koh Ping and Stella Yifan Xie Shares in Alibaba Group Holding Ltd. tumbled Thursday, extending a recent pullback, as China stepped up pressure on the e-commerce giant and its billionaire boss Jack Ma. Alibaba s Hong Kong stock dropped 8.1% to 228.20 Hong Kong dollars, its lowest point since July, in a shortened pre-Christmas trading session. The decline means Alibaba has now fallen more than 25% since a late October peak, when it was riding high ahead of a planned blockbuster listing of its financial-technology affiliate, Ant Group. On Thursday, Chinese regulators said they were taking actions against Alibaba and Ant Group, weeks after China stopped an expected $34 billion listing by Ant in Hong Kong and Shanghai.