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Asia EquityAsia IPOs

Alibaba’s HK stock rallies after record fine

Alibaba Group_575px_Alamy_April 12 2021

Alibaba Group Holding’s shares in Hong Kong closed 6.51% higher on Monday, despite news over the weekend that the technology giant will be hit with a record fine of Rmb18.22bn ($2.8bn) by China’s regulators.

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