HONG KONG -- Shares in Alibaba Group Holding rose sharply on Monday following a record 18 billion yuan ($2.75 billion) antimonopoly fine against the e-commerce group, as its executives vowed to rectify its problems and step up efforts to retain the merchants it does business with.
The price of Alibaba's Hong Kong-listed shares rose as much as 9% in morning trading, reflecting a belief by investors and analysts that the record fine draws a line for now under Beijing's regulatory action against one of the country's tech giants.
