Alibaba shares took place by seven percent, evidenced by the data of trading in the Hong Kong Stock Exchange. At 13:14 Moscow time, securities rose in price to 232.2 Hong Kong dollars per piece (about 30 US dollars).
8.99 percent added to the maximum quotation (up to 237.6 Hong Kong dollars per share). Earlier, the State PCR Market Control Department was fined Alibaba on a record in the country’s history – 18.22 billion yuan ($ 2.78 billion) for violating antitrust laws.
The investigation confirmed that Alibaba conducted a policy forcing the consumer to use its services “without the right to choose”. The Chinese Internet giant recognized the correctness of the decision of the PRC authorities to recover a fine with him, placing the appropriate application on its website. The end of the antimonopoly investigation helped take off shares.
The conflict between Jack Ma and China’s authorities began last year after the businessman criticized the government policy in the field of digital technology. After that, the authorities blocked the IPO (Exit to the Exchange) of the AT Group’s subsidiary’s financial company, and then forced to transform her business, giving more control to the state.