Alibaba shares surge almost 8% on Hong Kong debutAlibaba described its decision to list in Hong Kong as a vote of confidence in the embattled city's markets. HONG KONG - Shares in Chinese online retail giant Alibaba soared almost 8% on their Hong Kong debut Tuesday, after raising at least $11 billion in the city's biggest IPO in nearly a decade. In a sign of the tensions that still permeate Hong Kong after some of the worst violence of the unrest, riot police were stationed outside the exchange on Tuesday. If it chooses to use its over-allotment option to sell a further 75 million shares, Alibaba could bring in HK$101.2 billion ($12.9 billion). Hong Kong has been seized by months of violent unrest after the government introduced a bill that would have allowed extraditions to China's opaque judicial system.

Source: Bangkok Post November 26, 2019 02:48 UTC