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Alibaba shares in HK tumble on China probe

FILE PHOTO: A logo of Alibaba Group is seen during the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, Nov. 23, 2020. REUTERS/Aly Song/File Photo

HONG KONG (Reuters) - Shares of Alibaba Group plunged 7% on Thursday in early trading after Chinese regulators said they have launched an investigation into the company for suspected monopolistic behaviour.

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

Reporting by Clare Jim; Editing by Shri Navaratnam

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