HONG KONG/NEW YORK -- The stock price of Alibaba Group Holding fell below 100 Hong Kong dollars ($13) a share for the first time Friday, a day of heavy selling in Chinese tech stocks as investors fretted over the company's growth prospects and risk of further regulatory pressure from Beijing.
Alibaba closed down 5.17% to HK$99 on the Hong Kong Stock Exchange, down 68% from its peak. On the New York Stock Exchange, where it is also listed, shares traded below $100 for the first time since 2017 but closed at $100.60.
