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Alibaba backs Hong Kong’s ‘bright’ future with huge listing

Alibaba backs Hong Kong's 'bright' future with huge listing

The firm, which is already traded in the US, hopes to raise up to $13.4bn (£10.4bn) in its secondary listing.That would make it the biggest share sale this year, according to Dealogic.

The move is seen as a boost for Hong Kong, diluting fears that protests have tarnished its financial reputation.

The city has grappled with anti-government protests for nearly five months and violent clashes escalated this week .