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Alibaba shares jumped 5% in Hong Kong on Friday, as the Ant Group crisis came to an end with a $1.1 billion fine.
Chinese authorities are likely to announce a fine of at least 8 billion yuan ($1.1 billion) to Ant Group on Friday, sources familiar with the matter said, ending the fintech’s years-old regulatory overhaul.
The sources told Reuters: “The People’s Bank of China, which was leading the renovation process in Ant after canceling its $37 billion initial public offering in late 2020, is expected to disclose the fine soon.”
Markets decline
Markets in the Asia-Pacific region fell for the second day in a row, after stronger-than-expected US jobs data; This leaves room for further interest rate hikes for the Federal Reserve.
And the payroll processing company stated Thursday that “companies created much more jobs than expected, as private sector jobs increased by 497,000 jobs, which is much better than the Dow Jones consensus estimate of 220,000, and the increase resulted in the largest monthly increase since July 2022.
The data also came after the minutes of the Federal Reserve’s June meeting, released on Wednesday, showed that most officials would support further rate hikes in the future.
US Treasury Secretary Janet Yellen is in Beijing on a four-day trip to meet with Chinese officials; This indicates an improvement in relations between the United States and China.
low «hang sang»
The Hong Kong “Hang Sang” index decreased by 1.06%, as the “Hang Sang Technology” index fell by almost 2%.
In mainland China, the Shanghai Composite Index fell 0.25% and Shenzhen fell 0.55%.
In Australia, the “S & P / ASX 200” index fell by 1.8%; Which led to losses in the region.
The Japanese Nikkei index fell 1.13%, and the Topix index fell 1.1%.
In South Korea, the Kospi index fell 1.14%, as Samsung estimated a potential drop of 96% in its operating profit for the second quarter. (agencies)
