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China tech climbs on Hong Kong debut with more new stocks to follow

Yum China among those moving ahead with plans to list in the city

HONG KONG -- shares rose 3.5% on their Hong Kong trading debut on Thursday after the company raised as much as $3.88 billion in the city's largest listing so far this year, sending an encouraging signal for companies lining up to raise capital.

China's second-largest online retailer's shares closed at 234 Hong Kong dollars ($30.19), compared with an issue price of HK$226. The shares had initially surged to HK$239.

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