Alibaba becomes most valuable Asian company as market cap tops $500b

Alibaba becomes most valuable Asian company as market cap tops $500b

People walk by the Alibaba Group logo. Photo: Bloomberg

Asian tech companies’ market caps have grown significantly this year as the tech cycle turned up and investors began pricing in economic recoveries, factors that moved the market capitalization of Chinese internet giant Alibaba Group Holding to well over $500 billion.

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