Shares of ‘China’s Goldman Sachs’ jump after Alibaba raised its stake

//Shares of ‘China’s Goldman Sachs’ jump after Alibaba raised its stake

Shares of ‘China’s Goldman Sachs’ jump after Alibaba raised its stake

Shares of China International Capital Corporation (CICC) recorded their biggest intraday jump in 17 months after the world’s largest e-commerce platform raised its stake to become the third-biggest shareholder in the investment bank.CICC shares jumped as much as 11.1 per cent, and closed up 5.8 per cent, at HK$17.90.Alibaba Group Holding, which operates the world’s biggest online shopping platform and owns South China Morning Post, yesterday announced that it had paid HK$1.8 billion (US$230…

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By | 2019-02-20T05:20:08+00:00 February 20th, 2019|Business|Comments Off on Shares of ‘China’s Goldman Sachs’ jump after Alibaba raised its stake