:Hong Kong shares of Alibaba Group soared on Wednesday, marking a vote of confidence from investors after the company announced a major restructuring plan.The stock jumped as much as 16.3 per cent to HK$98, its highest since Feb 21, on course to snapping three consecutive sessions of losses and tracking a 14.
:Hong Kong shares of Alibaba Group soared on Wednesday, marking a vote of confidence from investors after the company announced a major restructuring plan.
The restructure, which was announced on Tuesday, has helped boost investor confidence in the wider Chinese tech sector, which has been battered by a heavy regulatory crackdown in recent years. That compared with a 2.3 per cent jump in benchmark Hang Seng Index and a 3.2 per cent gain for the Hang Seng Tech Index.Alibaba said on Tuesday it would re-organise into a holding company structure, with Daniel Zhang retaining his position as group CEO, and six sub-divisions each with their own CEOs and boards.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alibaba's Hong Kong shares set to open up 15% on split-up plansHong Kong shares of Alibaba Group were set to open up 14.96 per cent on Wednesday after it announced plans to split into six units and explore fundraisings or listings for most of them.The stock was set to open at HK$96.85 each. That compared with a 2.9 per cent gain for the benchmark Hang Seng Index and
Read more »
Hong Kong police keep tight tabs on first authorised protest in yearsHONG KONG - Hong Kong police on Sunday (March 26) permitted a small protest march under tight restrictions in one of the first demonstrations to be approved since the enactment of a sweeping national security law in 2020. Several dozen demonstrators were required to wear numbered lanyards and were barred from wearing masks, as police monitored their march against a...
Read more »
Where to stay in Hong Kong and Macau: 23 hotels for all-types of budgetHere are the top regions and hotels to stay in Hong Kong and Macau, and the activities you can enjoy in these regions.
Read more »
China developer Shimao seeks to sell Hong Kong hotel for US$828 million: AgentHONG KONG: Chinese property developer Shimao Group is seeking to sell its hotel in Hong Kong close to the international airport for HK$6.5 billion (US$828 million), according to sales agent JLL on Monday, in a move that could help the company repay debt. Shanghai-based Shimao, in the process of restructuri
Read more »
Hong Kong star Tony Leung to become first Chinese actor to receive lifetime achievement award at Venice Film FestivalHONG KONG — Hong Kong star Tony Leung Chiu-wai will become the first Chinese actor to be honoured with a Golden Lion for Lifetime Achievement at the 80th Venice Film Festival.
Read more »
Hong Kong actor Tony Leung awarded Golden Lion for Lifetime Achievement at 80th Venice Film FestivalKUALA LUMPUR, March 28 — Hong Kong actor Tony Leung Chiu-wai has become the first Chinese actor to be awarded the Golden...
Read more »