China's Alibaba strives to keep NYSE listing as SEC puts it on watchlist

The logo of Alibaba Group is seen during Alibaba Group's 11.11 Singles' Day global shopping festival at the company's headquarters in Hangzhou, Zhejiang province, China, November 10, 2019. REUTERS/Aly Song

Alibaba Group Holding Ltd on Monday said it would work to maintain its New York Stock Exchange listing alongside its Hong Kong listing after the Chinese e-commerce giant was placed on a delisting watchlist by US authorities.

Alibaba stock was down 4.5% in a near-flat Hong Kong market in early trade, following its 11.1% decline in New York on Friday.

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