Alibaba's $10b buyback plan fails to halt stock slide as regulatory concerns mount

REUTERS/Aly Song

Alibaba shares slumped 9% to their lowest since June on Monday, as the firm’s upsized $10 billion buyback programme failed to ease concerns about a regulatory crackdown on co-founder Jack Ma’s e-commerce and financial empire.

A sharp sell-off over two sessions has knocked almost $116 billion off the tech giant’s Hong Kong-listed shares.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter