Alibaba jumps most since Hong Kong Listing as China tech rebounds

Alibaba Group Holding Ltd. soared by the most since its 2019 listing in Hong Kong, leading a rebound in Chinese tech stocks, as bargain hunters piled in amid improved sentiment following Beijing’s move to bolster the economy.
 

Shares of the e-commerce giant advanced as much as 12% on Tuesday, tracking a rally in its American depositary receipts. The stock - which dropped to a new low on Monday in Hong Kong - provided the largest boost to the Hang Seng Tech Index, which gained as much as 4%. The benchmark Hang Seng Index climbed 2.7%.

China’s central bank announced late Monday