Alibaba Investment Drives Haier to 14-Year High: Hong Kong Mover

Bloomberg

Haier Electronics Group Co. (1169) surged to the highest in 14 years in Hong Kong trading after Alibaba Group Holding Ltd. agreed to invest HK$2.82 billion ($364 million) in the home-appliance maker and its logistics business.

Haier Electronics surged 13 percent to HK$21.05 in Hong Kong trading, the highest close since July 15, 1999. The stock has climbed 86 percent this year.

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