Alibaba shares open at three year-high as revenue beats estimates

Alibaba shares open at three year-high as revenue beats estimates

FILE PHOTO: A man walks past Alibaba Group's logo at its office building in Beijing, China August 9, 2021. REUTERS/Tingshu Wang/File Photo

Alibaba‘s shares opened 10% higher in Hong Kong on Friday to reach their highest level in more than three years, after it reported third-quarter revenues just above analysts’ estimates and said it plans to invest more in e-commerce and AI.

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