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Alibaba picks US for IPO in blow to Hong Kong exchange

By Elzio Barreto and Denny Thomas HONG KONG (Reuters) - Alibaba Group Holding Ltd said on Sunday it has decided to begin the process for an initial public offering (IPO) in the United States, ending months of speculation about where the Chinese e-commerce giant would go public. Alibaba's planned U.S. listing is the most anticipated IPO since Facebook Inc raised $16 billion in 2012. Alibaba's decision to go to the United States is a blow to the Hong Kong stock exchange, which was initially the company's preferred venue for the IPO.

Hong Kong stocks close 1.00% lower

Hong Kong shares fell 1.00 percent on Friday, following heavy losses on Wall Street as traders grew increasingly concerned about the Chinese economy and the Ukraine crisis. The benchmark Hang Seng Index slipped 216.59 points to 21,539.49 on turnover of HK$75.47 billion (US$9.73 billion). The losses extended a week-long downward trend for global stocks since the weekend when China posted data showing a surprise trade deficit for February and exports had slumped.

Hong Kong stocks close 0.67% lower

Hong Kong shares fell Thursday as another batch of weak Chinese data stoked fears for the world's number two economy, although mainland markets surged after Premier Li Keqiang said he was confident growth would pick up. The benchmark Hang Seng Index slipped 0.67 percent, or 145.87 points, to 21,756.08 on turnover of HK$69.15 billion (US$8.92 billion).

Hong Kong stocks open flat

Hong Kong stocks opened marginally higher on bargain-hunting Thursday after recent losses, with investors keeping an eye on the release of key Chinese economic indicators later in the day. The benchmark Hang Seng Index edged up 18.99 points to 21,920.94. dan/st

Alibaba's Tsai says will 'never' change partnership structure for Hong Kong IPO

By Paul Carsten and Anne Marie Roantree HONG KONG (Reuters) - Alibaba Group Holding <IPO-ALIB.N> will not change its partnership structure in order to list on the Hong Kong stock exchange, Executive Vice Chairman Joe Tsai told Reuters in an exclusive interview in Hong Kong on Wednesday.

Hong Kong stocks close 1.65% lower

Hong Kong shares ended 1.65 percent lower on Wednesday, in line with a regional sell-off following losses on Wall Street while traders remain nervous about the state of mainland China's economy. The benchmark Hang Seng Index fell 367.66 points to 21,901.95 on turnover of HK$78.98 billion (US$10.19 billion). Despite a mild uptick on Tuesday, there were too few catalysts to boost buying after a recent set of weak indicators out of Beijing that have fuelled concerns about Chinese economy.

Cathay Pacific says net profit tripled in 2013

Hong Kong flag carrier Cathay Pacific said Wednesday that net profit tripled last year, thanks to fuel cost savings and an increase in passengers. The airline said profit jumped to HK$2.62 billion ($338 million) from HK$862 million in 2012 as revenue climbed 1.1 percent to HK$100.5 billion. However the figure is still well down from the HK$5.5 billion seen in 2011 before the eurozone crisis and high fuel costs hammered the firm's bottom line.

Hong Kong stocks end flat

Hong Kong's leading shares index closed flat on Tuesday, as an early rally fuelled by bargain-hunting fizzled out in the afternoon owing to ongoing concerns about China's economy. The benchmark Hang Seng Index edged up 4.68 points to 22,269.61 on turnover of HK$56.33 billion (US$7.27 billion). Hong Kong and Chinese shares led global markets lower on Monday after Beijing said Saturday it had seen an unexpected trade deficit of $22.98 billion in February.

China needs to curb risks posed by booming online finance: former ICBC president

BEIJING (Reuters) - China needs to regulate booming online financial services firms to curb the risks they pose to the wider financial sector, the former president of Industrial and Commercial Bank of China, Yang Kaisheng, said on Thursday. Tens of millions of people have flocked to Internet companies' wealth management products since last year, attracted by interest rates on deposits higher than those the banks offered to customers, which remain subject to a cap of 3.3 percent for one-year savings.

Hong Kong stocks end 0.55% higher

Hong Kong shares climbed 0.55 percent on Thursday, in line with a broad regional rally, as hopes were raised for ongoing Ukraine crisis talks and dealers await the release of US jobs data. The benchmark Hang Seng Index added 123.19 points, to 22,702.97 on turnover of HK$70.51 billion (US$9.10 billion). Russia came under heightened diplomatic pressure as the UN Security Council and European Union leaders began separate talks on Ukraine, but investor confidence has slowly picked up after Monday's heavy sell-off.
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