Alibaba market capitalization surged close to 40% with 2nd most valued stock after Google. Once again, it shown technology business is the only way to leap frog in a short period of time. Of course it must be also in US to demand such high valuation. Funds I’m US is much appreciating technology business than any part of the world. Alibaba strong debut will also drive Dow Jones sentiment higher.
We will see also more Chinese tech firm will be inspired by Alibaba for more similar development path in both China and international market.