The secret to Alibaba’s success

Chinese e-commerce giant Alibaba has positioned itself perfectly to capture the strong growth in China’s consumer market by creating a credit culture in a country where trust is still a weak spot.

When Yahoo released its first quarter financial results, the most keenly-watched figures were not about the company itself, but instead those of Chinese e-commerce giant Alibaba, which Yahoo partly owns. Yahoo’s shares surged as much as 9 per cent in heavy trading yesterday after Alibaba revealed its fourth quarter earnings.

Traders scrambled to buy Yahoo’s shares as a proxy for Alibaba, which is expected to lodge a prospectus in the coming days ahead of its initial public offering in the US. Yahoo was the most traded stock on the Nasdaq on Wednesday. 

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