Alibaba's share price fell 9% on Monday and hit its lowest since June. Over the past two sessions, the company's capitalization on the Hong Kong stock exchange has decreased by almost $ 116 billion.
Last week, the Chinese authorities said they had launched an antitrust investigation against Alibaba. The Central Bank of China then asked Ant Group, a subsidiary of Alibaba, to reorganize lending and other consumer financial services operations.
Recently, Jack Ma, founder of Alibaba, criticized the PRC's financial regulators and banks, saying the country's regulatory system is stifling innovation and needs to be reformed. This provoked pressure on the holding.
According to analysts, in the near future, Alibaba shares may continue to decline, however, the falling shares may attract longer-term investors. Bank Nomura reaffirmed its Buy recommendation for the stock and a target price of $ 361. At the close of trading on Thursday, quotes were $ 222.
