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Alibaba Jumps Most Since H.K. Listing as China Tech Rebounds

  • Firm’s ADRs advanced by most since June 2017 on Monday
  • Hang Seng Tech Index adds 4.2%; Hang Seng Index up 2.7%
Updated on

Alibaba Group Holding Ltd. soared by the most since its 2019 listing in Hong Kong, leading a rebound among Chinese tech stocks, as bargain hunters piled in following Beijing’s move to bolster the economy 

Shares of the e-commerce giant jumped 12% on Tuesday, tracking a rally in its American depositary receipts. The stock - which dropped to a new low on Monday in Hong Kong - provided the largest boost to the Hang Seng Tech Index, which gained 4.2%. The benchmark Hang Seng Index climbed 2.7%. Its U.S. listed shares rose as much as 4.8% in pre-market trading.