AM Notes: Pub?

Bit of a risk off start to the week in Asia...

Seems that it's nothing to do with Chinese regulators fining Alibaba a record $2.8bn after finding that the ecommerce group had abused its market dominance...

“They are affirming our business model,” said Alibaba executive vice chairman Joe Tsai. “We feel comfortable that there’s nothing wrong with our fundamental business model as a platform company.”  

“Now the penalty is determined, the market’s uncertainty about Alibaba will be reduced,” Everbright Sun Hung Kai analyst Kenny Ng said. “Alibaba’s stock price has lagged behind the overall emerging economy

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Tim Vollans

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