HONG KONG (AFP) – Shares of Chinese e-commerce giant Alibaba tumbled in Hong Kong on Wednesday (Nov 4) following a shock decision by Chinese regulators to scrap the public listing of its spin-off financial tech company Ant Group.

As trading opened in Hong Kong, Alibaba’s stock price fell 9.61 per cent to HK$271.00, following an eight per cent tumble in the company’s share price overnight in New York.