Security

Alibaba Jumps as Much as 9.1% in Hong Kong in Broad Tech Rebound – Bloomberg


Alibaba Group Holding Ltd. drove a rebound in Chinese tech stocks in Hong Kong on Tuesday, as bargain hunters piled in amid improved sentiment following Beijing’s move to bolster the economy.

Shares of the e-commerce giant advanced as much as 9.1%, the biggest jump in seven weeks, tracking a rally in its American depositary receipts. The stock – which dropped to a new low on Monday – was the largest point contributor to the Hang Seng Tech Index, which gained as much as 2.7%. The benchmark Hang Seng Index climbed 1.7%.



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