BEKE - KE Holdings falls on report of Chinese antitrust investigation

KE Holdings (BEKE) dropped 4.3% in premarket trading on a report the Tencent-backed (TCEHY) company is being investigated by China over alleged anti-competitive behavior.China's antitrust regulator, the State Administration for Market Regulation ("SAMR"), has been formally probing the housing broker in recent weeks over claims that it forces real estate developers to list housing information only on its platforms, including Lianjia and Beike, according to a Reuters report.The antitrust review hasn't been publicly disclosed and it's not know when the investigation will finish or what the results may be, Reuters said.The Chinese antitrust regulator has been busy as  the Chinese government has a new focus on antitrust policy in the Internet sector in the past year as evidenced by the recent fine against Alibaba (BABA). In late April,  delivery company Meituan fell after China started an antitrust probe.

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KE Holdings falls on report of Chinese antitrust investigation