News Snapshot:
Shares of Alibaba Group Holding fell in Hong Kong on Monday after the Chinese tech giant announced it would revamp its domestic and foreign e-commerce business and appoint a new leading monetary director. The changes come as Alibaba faces headwinds on multiple fronts, including increased competition, a slowing economy, and a regulatory crackdown. Alibaba stock closed 5.6% lower on the Hang Seng index at HK $112.70 ($14.45), having pared earlier losses. On Friday, US-listed shares of Chinese companies tumbled on concerns about stricter regulatory scrutiny at home in the wake of plans by Didi Global Inc. to delist from the...
