China’s Alibaba Group faces an antitrust probe from the regulator

China’s antitrust regulator said on Thursday it had launched an investigation into the e-commerce giant, Alibaba Group (HKG: 9988). The tech company’s Ant Group affiliate, as per the State Administration for Market Regulation (SAMR), will be summoned for a meeting in the upcoming weeks. The Hong Kong-listed shares of Alibaba opened roughly 3.5% down on Thursday and slid another 5% in the next hour. At £21.67 per share, the tech giant is now a little under 10% up year to date in the stock market after recovering from a low of £16.14 per share in late March, when the COVID-19