Alibaba Group is planning to split into six units and explore fundraisings or listings for most of them, in a major revamp as China vows to ease a sweeping regulatory crackdown and support its private enterprises. Hong Kong-listed Alibaba jumped 15% at the open, sending the Hang Seng Tech Index to gain more than 4%. The Hang Seng benchmark also climbed 2.9%. China's CSI 300 benchmark , meanwhile, edged up 0.4%. (Reporting by Shanghai Newsroom; editing by Uttaresh Venkateshwaran)
SHANGHAI, March 29 (Reuters) - Hong Kong stocks surged
in early morning trade on Wednesday, boosted by a jump in
Alibaba's shares following the internet giant's
split-up and listing plan.
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