(CNBC) Alibaba shares in Hong Kong jumped more than 5% on Monday after the company was fined 18.23 billion yuan ($2.8 billion) by Chinese regulators as a result of an anti-monopoly investigation. “Despite the record fine amount, we think this should lift a major overhang on BABA and shift the market’s focus back to fundamentals,” Morgan Stanley wrote in a note on Sunday, a day after the fine was issued.
Alibaba shares jump 5% after being hit with $2.8 billion fine in anti-monopoly probe
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