*ALIBABA, TENCENT, BAIDU SHARES RISE IN HONG KONG AS INVESTORS BET CHINA'S TECH CRACKDOWN IS OVER $BABA $TCEHY $BIDU 🇨🇳🇭🇰
) Group and Tencent shares rose in Hong Kong on Monday as China's $984 million fine for Ant Group was viewed as signalling the end of a regulatory crackdown on the country's technology sector.
The scrutiny made for an uncertain environment that wiped billions off share prices, ensnaring companies from online retail giant Alibaba to gaming company Tencent and food delivery group Meituan.
"We view this announcement a key milestone for a regular, clear and visible regulatory environment for China's internet companies," Huatai Research analysts wrote in a note to clients.Alibaba, which spun off Ant 12 years ago and has a 33% stake, on Sunday said it was considering whether to participate in the buyback that would transfer shares to an employee incentive scheme.
The buyback will be one of the first opportunities for Ant investors who had participated in three funding rounds from 2015 to 2018 to sell out of the company.
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