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Alibaba shares set to rise 6.3% in Hong Kong debut



Alibaba Group’s Hong Kong shares are set to rise 6.3% in their debut after marking the city’s biggest share sale in nine years, Trend reports citing Reuters.

Alibaba has raised at least $11.3 billion from the secondary listing and could go as high as $12.9 billion if an over-allotment option is exercised.

The company sold the shares at HK$176, which was a 2.9% discount to the company’s closing price in New York last Tuesday. Each American Depository Receipt (ADR) represents eight Hong Kong shares.

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6.1 magnitude quake rocks off eastern Indonesia, no tsunami alert issued



A shallow and strong earthquake measuring 6.1 magnitude struck off eastern Indonesia’s West Papua province on Saturday evening, but no tsunami alert was issued, the meteorology and geophysics agency said, Trend reports citing Xinhua.

The quake jolted at 7:11 p.m. Jakarta time (1211 GMT) with the epicenter at 280 km northeast Tambrauw of the province and a depth of 10 km under sea bed, official in charge at the agency Abdul Rosid said.

“There (is) no potential of tsunami from happening so that we did not issue a warning,” he told Xinhua over phone.

Indonesia is prone to quake for its position on the quake-impacted zone so-called “the Pacific Ring of Fire.”

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