** Hong Kong shares of China's mobile games publisher Bilibili Inc fall 8.5% to HK$87.60, on track for its biggest one-day pct drop since Dec. 22
** Stock hits lowest level since March 11; fifth biggest pct loser in Hang Seng Tech Index
** Alibaba says its plan to sell Bilibili ADR aligns with its capital management objectives and will not affect business cooperation with Bilibili
** Alibaba unloads Bilibili ADR at a discount for $357.8 mln in the latest asset sale, Bloomberg reported
** Hong Kong shares of Alibaba fall 3.4% to HK$70.10, set to log biggest one-day pct drop since Feb. 8
** Hang Seng Tech Index drops 4.3%, Hang Seng Composite Index falls 3.5% and Hang Seng Index declines 3%
** YTD Hong Kong stock of Bilibili down 6.3%, Alibaba down 7.2%
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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