Alibaba Group was obliged to pay the biggest corporate fine in the history of China for $2.8 billion for violating the anti-trust law. In this light, Alibaba shares showed an 8% growth. Chinese authorities tighten control over operations of IT companies.
Tag: Tencent Music Entertainment Group
Morgan Stanley and Goldman Sachs sold shares for $19 billion overnight. This huge and emergency liquidation provoked a market slump and falling of the stock price of Chinese IT giants and American media holdings by $35 billion total.