Alibaba Slumps 5% as Traders Assess Earnings Risk

Alibaba Group Holding Ltd. fell for a third straight day as investors assessed the impact of Jack Ma reportedly ceding control of his fintech arm, and as worries over its earnings dragged.

Shares closed down 6.1% in Hong Kong on Friday, among the biggest decliners on the Hang Seng Tech Index. The tech giant is expected to report its first-ever negative quarterly revenue growth next week.