Alibaba shares surge 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: Chinese online retail giant Alibaba surged Tuesday as it drew back the curtain on a Hong Kong listing the firm described as a vote of confidence in the embattled city. Plans for an Alibaba listing in Hong Kong broke down in 2013, in part because the city's listing rules prevented founder and then-boss Jack Ma from retaining some control over the board of directors. And asked whether the firm was planning to sell shares in mainland China, Zhang told reporters: "Hong Kong is a new starting point, but certainly not the end." Observers said the introduction of Alibaba to the Hong Kong exchange could prove a boon for the market.

Source: Bangkok Post November 26, 2019 04:47 UTC