Shares of Chinese e-commerce giant Alibaba soared over 10 percent, allowing it to overtake US social media firm Facebook by market capitalization and climb higher among the world’s most valuable firms.
Alibaba stock enjoyed its biggest one-day percentage gain since its secondary listing in Hong Kong in November. At $261 per share, its market cap soared to HK$5.614 trillion (over US$720 billion), outweighing that of its closest rival on the list, Facebook.
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