(Yicai Global) Dec. 24 -- Shares of Alibaba Group dived to a more than five-month low this morning after a top market regulator began its investigation into the e-commerce giant's alleged monopoly conduct.

Alibaba's Hong Kong-listed equity [HK:9988] slid as much as 8.1 percent down at HKD228.4 (USD29.50) this morning, the lowest since early July. Shares of Alibaba Health Information Technology [HK:0241] were also falling.

Acting on information, China's State Administration for Market Regulation has started investigating the Hangzhou-based firm for alleged monopoly conduct, including an "exclusive dealing agreement," Xinhua News Agency reported this morning.

Moreover, China's central bank and three financial watchdogs will conduct regulatory talks with Ant Group, Alibaba's fintech affiliate, within the next few days, according to Xinhua.

Editor: Emmi Laine