China Fines Alibaba $2.8 Billion, But BABA Stock Jumps; JD.com, Pinduoduo, Tencent Fall

China Fines Alibaba $2.8 Billion, But BABA Stock Jumps; JD.com, Pinduoduo, Tencent Fall

China imposed a record $2.8 billion antitrust fine vs. Alibaba. But BABA stock jumped on hopes that the bad news is priced in. JD.com, Tencent and Pinduoduo fell.