Alibaba's HK stock tumbles to record low on e-commerce rejig plan

** Hong Kong shares of Alibaba Group fall as much as 8.3% to HK$109.50, lowest since listing in the city in November 2019, and on course for fifth consecutive session of decline

** Stock set for worst day since Nov. 19; biggest percentage decliner on the benchmark index and Hang Seng Commerce & Industry Index , third biggest on Hang Seng Tech Index

** Alibaba said on Monday it was reorganising its international and domestic e-commerce businesses and would appoint a new chief financial officer

** Says it would form two new units to house its main e-commerce businesses - international digital commerce and China digital commerce, so as to become more agile and accelerate growth

** "The transition announced today is happening earlier than we expected. After a series of headline news over the past year, the next few years will be critical for Alibaba Group to prove its ability to recover from the macro slowdown and emerge even stronger operationally" - Citi

** Hang Seng Commerce & Industry Index, Hang Seng Tech Index and the benchmark index fall between 1% and 2%