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Alibaba’s stock jumps on Hong Kong trading debut

Hudson Lockett and George Hammond in Hong Kong

Shares in Alibaba jumped more than 6 per cent in their Hong Kong trading debut, after the technology group raised more than $11bn against a backdrop of simmering anti-government unrest in the Asian financial hub. At Hong Kong’s stock exchange, where riot police stood guard outside, Alibaba chief executive Daniel Zhang told an audience minutes before the market opened that Alibaba has “returned home to Hong Kong” to a large round of applause. The mammoth listing also follows increasing Sino-US trade tensions.