HONG KONG – Hong Kong led losses in Asian stock markets on Friday as Alibaba was hammered after saying it would cancel the planned spinoff of its cloud computing arm.
The sell-off came as an exciting week on global trading floors saw a tepid finish, with Wall Street drifting even as a forecast-beating jump in US jobless claims added to optimism the central bank would not hike interest rates again.
Market-heavyweight Alibaba collapsed more than 10% after its shock decision not to spin off its cloud computing arm because…
