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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

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.

The jump made the Chinese short-video app operator the fifth-most valuable company on the Hong Kong Stock Exchange, well ahead of traditional blue chips such as Industrial & Commercial Bank of China and PetroChina, with a market capitalization of 1.23 trillion Hong Kong dollars ($158.66 billion).

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