Stocks are in negative territory in Hong Kong today after a dip at the open. The benchmark Hang Seng Index has shed 138 pointsm or 0.47 percent at 29,110.67.
Shares in Alibaba Group (9988) are down by 4.08 percent at HK$249.40.
Tencent Holdings (0700), is up by 0.76 percent at HK$730.00.
Alibaba Group, which is under Chinese regulatory scrutiny, said Tuesday that Ant Group is developing a “rectification plan,” and that the “business prospects and IPO plans are subject to substantial uncertainties.”
Alibaba Group is also planning to raise up to US$5 billion in a bond issue.
The Hang Seng Tech Index is at 10,057.70, up by 81.26 points, or 0.81 percent.
Chinese stocks opened mixed on Wednesday, with the benchmark Shanghai Composite Index down 0.07 percent to open at 3,531.15 points. The Shenzhen Component Index opened 0.16 percent higher at 15,360.42 points