Alibaba shares jump during stellar Hong Kong debut

Shares in Alibaba have surged in its Hong Kong trading debut.

The Chinese e-commerce giant, which is already traded in the US, raised around $11.3 billion in its secondary listing. In opening moves on Hong Kong's Hang Seng Index yesterday, Alibaba's stock jumped more than 6%.

As riot police stood guard outside due to long running anti-government unrest, Alibaba Chief Executive Daniel Zhang told an audience that the company had “returned home to Hong Kong”.

The listing, the largest in Hong Kong in nearly a decade, will give it fresh capital for its various omnichannel initiatives.

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