Price of Alibaba’s shares declined after PBOC announced planning launch of an antitrust investigation into Alibaba. Alibaba on Monday revealed boost of its two-year share buyback programme to $10bn from $6bn.

Another negative hit is publicly accused Ant Group by Beijing, the e-commerce group’s sister company. Ant’s IPO had to be the world’s largest and with valuation at more than $300bn.

“Ant won’t be able to complete its business overhaul until the new regulations are available. It will take at least 12 months for regulators to draw up detailed new rules for Ant to follow,” said Ji Shaofeng, a former official at China’s banking and insurance regulator.

The investigation of the Alibaba by the Chinese antitrust regulators was launched last week and sent its shares down 13% in New York on Friday. Decreasing continued by felling another 8% on the Hong Kong’s stock exchange after the PBOC announced an attack on its financial services affiliate Ant Group.

Alibaba's shares have fallen by over a quarter since then.

Performance of Alibaba’s shares (Tradingview.com)