News Snapshot:
Font size Alibaba shares and other Chinese tech stocks tumbled Monday following new fines from market regulators over disclosure rules. China’s State Administration for Market Regulation announced a spate of fines on Sunday for misreporting past deals, in violation of competition law. Alibaba (ticker: BABA) and Tencent (0700.HK) were among the companies that were fined as a result. Shares in e-commerce powerhouse Alibaba slumped 8.6% in US premarket, with internet giant Tencent ‘s stock trading 3% lower in Hong Kong. The sell-off was felt across the industry, pushing other Chinese technology stocks including JD.com (JD) and NetEase (NTES), which fell...
