Alibaba: Alibaba probe stirs worry about what's next for Chinese tech


Source: indiatimes.com indiatimes.com

Key Topics in this News Article:

News Snapshot:

By Coco Liu Alibaba Group Holding Ltd. led a second day of frenetic selling among China’s largest tech firms, driven by fears that antitrust scrutiny will spread beyond Jack Ma’s internet empire and engulf the country’s most powerful corporations. Alibaba and its three largest rivals -- Tencent Holdings Ltd., food delivery giant Meituan and JD.com Inc. -- have shed nearly $200 billion in Hong Kong over the two sessions since Thursday when regulators revealed an investigation into alleged monopolistic practices at Ma’s signature company. That marked the formal start of the Communist Party’s crackdown on not just Alibaba but also,...