Alibaba Shares Jump on Plans to Boost Service Fee for Merchants
- Stock climbs the most in two months, leading gains in HSI
- Firm to charge software service fee of 0.6% of transactions
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Alibaba Group Holding Ltd. shares rose the most in two months as investors cheered the e-commerce company’s plan to earn more service fees from merchants.
The stock gained as much as 5.8% in Hong Kong on news that Alibaba will start charging a basic software service fee of 0.6% on confirmed transactions for vendors on both the Tmall and Taobao platforms. The policy change was relayed to merchants on Friday, according to a person familiar with the matter. But Alibaba may waive the new policy for small merchants, the person said.