Chinese and Kong

hong: Photo Xinhua It isn't surprising that the market cheered Alibaba's listing on the Hong Kong bourse on Tuesday by pushing its share price up nearly 7 percent as the Chinese internet giant's IPO was hailed by Chinese observers for injecting a much-needed vote of confidence in the riot-hit city and its financial sector, according to Global Times China. Alibaba's IPO on the Hong Kong stock market, given the unrest going on in the city in recent months, is a strong endorsement of Hong Kong's unshakable role as an international financial hub and as the Chinese mainland's gateway to global financial markets, Chinese experts said. Ten partners from around the world attend the listing ceremony. Alibaba shares jumped more than 7 percent within the first hour of its Hong Kong debut. Alibaba's total market capitalization stood at around HK 4 trillion, making it the most valuable company by market capitalization on the Hong Kong bourse. As of closing time, Alibaba's shares finished at HK 187.6 23.99 per share, 6.59 percent higher. (news.financializer.com). As reported in the news.