Shares of the Chinese e-commerce company are now trading at 199.80 Hong Kong dollars ($25.52) each. That's slightly lower than Thursday's close, but still nearly 14% higher than what the shares were priced at when Alibaba first started trading in Hong Kong on Tuesday.
The public offering has been a big boost of confidence for the Asian financial hub, which has been rattled by months of protests. Alibaba's secondary listing could raise as much as $12.9 billion.
Elsewhere in the region, stocks slumped Friday. Hong Kong's benchmark Hang Seng Index (HSI) fell 1.7%, while South Korea's Kospi index (KOSPI) declined 1%.
China's Shanghai Composite (COMP) and Japan's Nikkei 225 (N225) were mostly flat, but in negative territory.
The Bank of Korea held interest rates steady on Friday at its last policy meeting of the year. It was in line with analyst estimates, according to financial data provider Refinitiv. The bank said in a statement that it will carefully monitor developments in the US-China trade talks and geopolitical risks while judging whether to adjust its monetary policies.
World - Latest - Google News
November 29, 2019 at 09:34AM
https://ift.tt/37Hur6h
Alibaba has gained nearly 14% since its Hong Kong debut - CNN
World - Latest - Google News
https://ift.tt/2SeTG7d
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
No comments:
Post a Comment