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BUZZ-Alibaba's Hong Kong-listed shares hit record low on Weibo sale report

reuters.com · 12/30/2021 02:57
BUZZ-Alibaba's Hong Kong-listed shares hit record low on Weibo sale report

** Hong Kong-listed shares BABA of Chinese e-commerce giant Alibaba Group down 1.3% at HK$109.20, lowest since debut in November 2019

** Tracks U.S.-listed stock BABA.N lower

** Company's Hong Kong-listed shares on track for second session of declines; second most actively traded stock by turnover

** Alibaba is in talks to sell as much as its entire 30% stake in its Twitter-like services unit, Weibo Corp WB.O, to state-owned Shanghai Media Group - Bloomberg News

** Beijing is tightening oversight amid rising influence of Chinese Big Tech, and earlier this month Weibo was fined 3 mln yuan ($470,000) by China's internet regulator for repeatedly publishing illegal information nL1N2SZ04M

** Hong Kong-listed shares WB of Weibo down 1.8%

** Hang Seng Tech index .HSTECH eases 0.3%, while Hang Seng index .HSI gains 0.1%

** Alibaba's Hong Kong shares down 52.5% this year


(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))