Alibaba Group Holding’ senior executives at the New York Stock Exchange for the company's initial public offering (IPO) on September 19, 2014. Co-founder and vice-chairman Joe Tsai (left), Jack Ma (centre) and then chief operating officer Daniel Zhang (right) are in the photo. Photo: Reuters

Alibaba overtakes Facebook as world’s sixth-most valuable company after shares soar by 10 per cent in Hong Kong

  • Alibaba’s shares rose 10 per cent in Hong Kong to a record HK$261.60, after advancing 9 per cent in New York overnight to US$257.68
  • That gives the Hangzhou-based technology company nearly HK$5.614 trillion (US$720 billion) in market value, more than Facebook’s US$694.53 billion in capitalisation
Topic |   Alibaba
Alibaba Group Holding’ senior executives at the New York Stock Exchange for the company's initial public offering (IPO) on September 19, 2014. Co-founder and vice-chairman Joe Tsai (left), Jack Ma (centre) and then chief operating officer Daniel Zhang (right) are in the photo. Photo: Reuters
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