- Top EU court finds against FIFA in key transfer market ruling
- Oil extends gains, Hong Kong stocks resume rally
- 'A man provides': Ukrainian miners send families away as Russia advances
- EU states greenlight extra tariffs on EVs from China
- Hong Kong stocks resume rally, oil dips after Middle East-fuelled surge
- Crude stable after Israel-Iran surge, Hong Kong stocks resume gains
- Hera spacecraft to probe asteroid deflected by defence test
- US dockworkers to head back to work after tentative deal
- After Helene's destruction, North Carolina starts to rebuild
- Dockers end three-day strike at Montreal port
- What next for OpenAI after $157 billion bonanza?
- Israel-Hamas war causes 86-percent dive in Gaza GDP: IMF
- Milan's Morata moves house after Inter-fan town mayor 'violates' privacy
- 'Devastating' storm hits Augusta National but Masters will go on
- Relief in Brazil, Asia over delay to EU deforestation rules
- Oil prices jump, stocks fall on Middle East tensions
- Biden says 'discussing' possible Israeli strikes on Iran oil facilities
- Oil prices rise, stocks fall on Middle East tensions
- Oil rallies, stocks mostly retreat on Middle East tensions
- Phasing out teen smoking could save 1.2 mn lives: study
- 'Welcome relief': Asia producers hail EU deforestation law delay
- Japan PM slated to announce plans for 'happiness index'
- Turkish inflation falls less than expected in September at 49.4%
- Easing inflation lifts profit at UK supermarket Tesco
- Skiing calls on UN climate science to combat melting future
- China wine industry looks to breed climate resilience
- Tokyo rallies on weak yen, Hong Kong drops after surge
- Dutch airline KLM unveils 'firm' cost-cutting measures
- Carpe diem: the Costa Rican women turning fish into fashion
- Senegal looks to aquaculture as fish stocks dwindle
- Will AI one day win a Nobel Prize?
- Climate change, economics muddy West's drive to curb Chinese EVs
- Argentina's Milei vetoes university budget after huge protests
- TotalEnergies plans to grow oil and gas production until 2030
- 2024 Nobels offer glimmer of hope as global crises mount
- Tokyo rallies on weak yen, Hong Kong reverses after surge
- Tunisia readies for vote as incumbent Saied eyes victory
- High childcare costs in US weigh on women's employment
- US voters seek help with crushing childcare costs
- Taiwan shuts down for second day as Typhoon Krathon to land
- Supercharged storms: how climate change amplifies cyclones
- Biden official urges talks as US port strike enters second day
- Huge protests in Argentina over public university cuts
- Rally in oil prices loses steam on mixed day for global stocks
- South America treated to rare 'ring of fire' eclipse
- Biden official says port strike deal not as far as parties think
- Mexico's new president offers apology for 1968 student massacre
- Historic funding round values OpenAI at $157 billion
- Mixed US car sales in Q3 as industry hopes for post-election bounce
- Thunderstorms are a 'boiling pot' of gamma rays, scientists find
VOD | -0.52% | 9.69 | $ | |
SCS | -1.98% | 12.62 | $ | |
RIO | -1.42% | 69.83 | $ | |
GSK | -2.81% | 38.37 | $ | |
BP | 0.28% | 32.46 | $ | |
RBGPF | 100% | 58.93 | $ | |
CMSC | -0.16% | 24.74 | $ | |
RYCEF | 1.15% | 6.98 | $ | |
NGG | -2.7% | 66.97 | $ | |
BTI | -2.45% | 35.11 | $ | |
AZN | -2.12% | 77.93 | $ | |
BCC | -0.9% | 138.29 | $ | |
CMSD | -0.16% | 24.89 | $ | |
BCE | -1.77% | 33.84 | $ | |
RELX | -1.46% | 46.61 | $ | |
JRI | -0.6% | 13.3 | $ |
Alibaba shares extend losses on US delisting fear
Chinese e-commerce giant Alibaba led technology stocks lower in Hong Kong on Monday after US authorities put it on a watchlist that could see it delisted in New York if it does not comply with disclosure orders.
The market heavyweight sank more than five percent in early trade, pushing it to its lowest level since May and dragging the Hang Seng Tech Index with it.
The US securities watchdog on Friday said it added the Chinese firm to a list of more than 250 others that could be booted from Wall Street -- where it listed in 2014 -- if strict auditing requirements were not met for three consecutive years.
The announcement comes as tensions between Washington and Beijing are dragged lower by a range of issues including technology, human rights and Taiwan.
It also follows a report last week that founder Jack Ma plans to give up control of Ant Group as part of a strategy to appease Chinese regulators and revive the digital payments unit's initial public offering.
The firm has come under intense pressure from a crackdown on the tech sector by Chinese authorities for more than a year, sending its share price plunging about 70 percent from its record high in late 2020.
It was hit with a record $2.75 billion fine in April 2021 for anti-competitive practices.
Earlier this year, Alibaba removed all executives linked to Ant from Alibaba Partnership, a group that can nominate the majority of Alibaba's board.
Reports about Ma's decision wiped out Alibaba's gains from earlier in the week, when the firm announced it would seek a primary listing in Hong Kong to better access China's vast pool of investors.
The selling -- it sank more than 10 percent in New York -- was made worse by concerns about Alibaba's upcoming earnings report, which many fear will show its first ever drop in quarterly revenue.
A.Mykhailo--CPN