Alibaba Shares Surge On Hong Kong Debut
November 27, 2019
2:48 pm
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.
The long-delayed trading day got off to a glitzy start with chief executive officer Daniel Zhang joined on stage at a stock exchange ceremony by dignitaries including city Financial Secretary Paul Chan and former Hong Kong chief executive Tung Chee-hwa.
Soon after the gong was sounded, Asia’s most valuable company soared almost eight percent, a bright start after a blockbuster initial public offering that has raised at least $11 billion, …
