the Chinese language e-commerce website, fell 7% in Hong Kong buying and selling on Monday after hypothesis that the corporate is shifting its headquarters overseas to Singapore.
Alibaba (ticker: HK:9988) has denied the hypothesis, telling Chinese language media together with Sina Monetary it’s “unfaithful and a misunderstanding.” Alibaba’s headquarters are in Hangzhou, China, and it mentioned the brand new campus in Singapore will home regional operations with companions in Southeast Asia reminiscent of Lazada Group.
Alibaba’s U.S.-traded American depositary receipts fell 5.7% on Monday to $111.66.
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