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19/09 20:02 CET

Alibaba’s share shoot up in value on first day of trading

Alibaba’s share shoot up in value on first day of trading

Huge demand for the shares of giant Chinese internet retailer Alibaba caused them to surge to almost $100 each at one stage on their first day of trading in New York. Internationally Alibaba is not a household name like Amazon and eBay, but in China it is ubiquitous accounting for 80 percent of online sales. In Hong Kong, analyst…