After formulating a plan for spinning business into six independent entities, Chinese technology giants Alibaba, Alibaba, soared after the opening of the Hong Kong stock market on Wednesday (March 29), and promoted the stock market to lead the Asian market.
According to Bloomberg, the Hang Seng Technology Index has risen a maximum of 4.8%at the beginning of the market, and it has moved to the high level since mid -February; the benchmark Hang Seng Index rose 2.2%.Alibaba, which contributed to these two indexes more than 16%, once rose to the largest increase in a year.Among the other Chinese -funded science and technology stocks, Meituan rose more than 5%, JD.com rose nearly 4%, and Tencent rose nearly 3%, all of which rose in the HSI.
Alibaba plans to divide the business of US $ 220 billion (S $ 292.6 billion) into six major business groups. Each group can independently conduct financing and first public offering.
It is reported that Alibaba's operation may indicate that the group has prepared to face investors and open markets, and may provide a template for other Chinese technology companies.Previously, Ma Yun, the co -founder of Alibaba, who had lived overseas for more than a year, returned to China.
Investors and analysts said that Alibaba's reform helps to increase the market value of the group, split plans or signals supported by the government.This optimism has pushed up the stocks. Overnight the Nasdaq's Jinlong China index rose 3.5%, the largest increase in the past two months, and Alibaba's US deposit vouchers (ADR) also rose 14%.
Faced with the urgent demand for economic growth, China ’s rectification or ease of the technology industry this year has been eased.Chinese President Xi Jinping has repeatedly emphasized the importance of private enterprises to the Chinese economy, urged enterprises to strengthen innovation, and play a greater role in scientific and technological independence.
Ling Weisen, managing director of Ruilian Bank, said: "(China) the government needs to revive the economy this year, which also includes improving employment prospects and income. After experiencing pressure and layoffs in the past few years, the technology giantsNow it is critical to boosting employment by the government. Therefore, from this perspective, I think that the government can think that the government will support these technology platform companies more next, "
