Alibaba shares plunge 9.6% in Hong Kong after mega Ant listing frozen

HONG KONG (BLOOMBERG, AFP) – Shares of Chinese e-commerce giant Alibaba tumbled in Hong Kong on Wednesday (Nov 4) following a shock decision by Chinese regulators to scrap the public listing of its spin-off fintech giant Ant Group. Alibaba Group Holding, which owns about a third of Ant, tumbled as much as 9.6 per cent and led declines on the Hang Seng Index, which pared an earlier drop to trade 0.45 per cent higher as of 10:04am. Overnight, Alibaba shares slid 8.1 per cent in New York trading on Tuesday (Nov 3), wiping nearly US$68.4 billion off its value, much…