Alibaba shares in Hong Kong tumble on China probe

Alibaba Group Holding Ltd. is headquartered. in Hangzhou, China. (Photographer: Qilai Shen / Bloomberg)

Shares of Alibaba Group fell 7% Thursday in early trading after Chinese regulators said yes launch an investigation into the company for suspicion of monopolistic behavior.

The stock was trading as low as HK $ 229.4. The Hang Seng Index was down 0.2%.

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