Alibaba’s Hong Kong listing is very positive
Alibaba enjoyed a strong start in Hong Kong with the Chinese e-commerce company’s shares gaining nearly 7% on the first day of trading in the Asian financial centre.
In a recent interview with CNBC, Ellerston Asia Portfolio Manager, Mary Manning, discussed Alibaba’s positive step to list in Hong Kong at a time where a lot of people have lost confidence in the Hong Kong market and her intention to move, over time, move her position out of the ADR (American depositary receipt) into the Hong Kong listing.