Shanghai Surge
Alibaba delivers windfall to Saudi Arabia’s sovereign wealth fund
The kingdom's Public Investment Fund bought 153,000 shares in China's Alibaba during the first quarter of 2024, profiting from the stock’s 24% jump
Alibaba Group’s office building in Nanjing, Jiangsu Province of China. (Photo: Getty Images)
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A rally this year on the Shanghai Stock Exchange has been a boon to Saudi Arabia.
The Public Investment Fund bought 153,000 shares in Alibaba during the first quarter of 2024, profiting from the stock’s 24% jump during...