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IPO

Kuaishou shares rise 160% on trading debut in Hong Kong

Chinese short-video app's market cap tops ICBC and PetroChina

Kuaishou Technology's headquarters in Beijing. The company, a rival of ByteDance-owned Douyin, the Chinese version of TikTok, raised $5.4 billion in its initial public offering.   © AP
NARAYANAN SOMASUNDARAM, Nikkei Asia chief banking and financial correspondent | Hong Kong

HONG KONG -- Kuaishou Technology soared as much as 200% on its stock market debut on Friday as it recorded the biggest opening-day gain ever for a large Hong Kong IPO.

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