Alibaba’s Shares Soar as Ant Group Fine Brings Regulatory Clarity to Chinese Tech Industry

Alibaba

Alibaba’s Hong Kong-listed shares rose by 3% on Monday as investors hoped that the regulatory scrutiny surrounding its financial arm, Ant Group, would end. Chinese regulators imposed a fine of 7.12 billion yuan ($985 million) on Ant Group, which could signal the conclusion of Beijing’s crackdown on domestic tech companies. Ant Group’s initial public offering […]

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