{"id":426,"date":"2020-12-28T10:58:22","date_gmt":"2020-12-28T10:58:22","guid":{"rendered":"https:\/\/dailyrapidnews.com\/eng\/?p=426"},"modified":"2020-12-28T10:58:22","modified_gmt":"2020-12-28T10:58:22","slug":"alibaba-increases-share-repurchase-programme-to-10b-shares-fall","status":"publish","type":"post","link":"https:\/\/dailyrapidnews.com\/eng\/2020\/12\/28\/alibaba-increases-share-repurchase-programme-to-10b-shares-fall\/","title":{"rendered":"Alibaba increases share repurchase programme to $10b, shares fall"},"content":{"rendered":"

Shares of Alibaba Group Holding Ltd listed in Hong Kong fell on Monday by over 7% to HK$212.20 ($27.37) after the company raised its share repurchase programme to $10 billion from $6 billion.<\/p>\n

“This Share Repurchase Program will be effective for a two-year period through the end of 2022,” Alibaba said in a statement\u00a0late on Sunday.<\/p>\n

China\u2019s market regulator launched an antitrust investigation into Alibaba last week, part of an accelerating crackdown on anticompetitive behavior in China\u2019s booming internet space.<\/p>\n

The probe is part of an accelerating crackdown on monopolistic behavior in China\u2019s booming internet space, and the latest setback for Ma, the 56-year-old former school teacher who founded Alibaba and became China\u2019s most famous entrepreneur.<\/p>\n

In a strongly worded editorial, the ruling Communist Party\u2019s People\u2019s Daily said that if \u201cmonopoly is tolerated, and companies are allowed to expand in a disorderly and barbarian manner, the industry won\u2019t develop in a healthy, and sustainable way\u201d.<\/p>\n

Financial regulators on Sunday also urged Ant Group Co, an Alibaba affiliate, to rectify financial regulatory violations, after Chinese regulators abruptly suspended Ant\u2019s blockbuster $37 billion initial public offerings in Shanghai and Hong Kong.<\/p>\n

Alibaba rival internet companies Meituan fell over 5% and JD.com dropped more than 2%.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Alibaba Group Holding Ltd listed in Hong Kong fell on Monday by over<\/p>\n","protected":false},"author":1,"featured_media":427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nAlibaba increases share repurchase programme to $10b, shares fall<\/title>\n<meta name=\"description\" content=\"Shares of Alibaba Group Holding Ltd listed in Hong Kong fell on Monday by over 7% to HK$212.20 ($27.37) after the company raised its\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailyrapidnews.com\/eng\/2020\/12\/28\/alibaba-increases-share-repurchase-programme-to-10b-shares-fall\/\" \/>\n<meta property=\"og:locale\" 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The company\u2019s American Depositary Receipts (ADRs) rose more than 5% on Wednesday, following a\u2026","rel":"","context":"In "Business"","img":{"alt_text":"jack_ma_Jack-Ma-makes-first-public-appearance-since-October-2020-rapid-news-rapidnews-dailyrapidnews","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/01\/jack_ma_Jack-Ma-makes-first-public-appearance-since-October-2020-rapid-news-rapidnews-dailyrapidnews.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":724,"url":"https:\/\/dailyrapidnews.com\/eng\/2021\/01\/04\/ali-baba-founder-jack-ma-missing-since-three-months-following-conflict-with-jinping\/","url_meta":{"origin":426,"position":4},"title":"Ali baba founder Jack Ma missing since October following conflict with Jinping","date":"January 4, 2021","format":false,"excerpt":"Speculation is rife about Chinese billionaire Jack Ma going 'missing' as he hasn\u2019t been seen in public for nearly two months. 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The body launched an investigation into Alibaba\u2019s anti-monopoly violations in late 2020, with the company expressing its readiness to cooperate with China Communist Party regulatory\u2026","rel":"","context":"In "Business"","img":{"alt_text":"China-fines-Alibaba-record-$2.78bn-over-anti-monopoly-violations-rapidnews-dailyrapid","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/04\/China-fines-Alibaba-record-2.78bn-over-anti-monopoly-violations-rapidnews-dailyrapid.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/comments?post=426"}],"version-history":[{"count":1,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/426\/revisions"}],"predecessor-version":[{"id":428,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/posts\/426\/revisions\/428"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/media\/427"}],"wp:attachment":[{"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/media?parent=426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/categories?post=426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyrapidnews.com\/eng\/wp-json\/wp\/v2\/tags?post=426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}