HONG KONG, April 8 Shares of Hundsun
Technologies surged more than 10 percent on Tuesday
after Jack Ma, the founder of China's Alibaba Group Holding Ltd
, agreed to take a 3.3 billion yuan ($532 million)
stake in the financial software firm.
Hundsun Technologies said last Thursday that Hundsun Group,
which owns a 20.6 percent stake in Hundsun Technologies, would
sell all of its shares to Zhejiang Finance Credit Network
Technology Co, a company 99 percent owned by Ma.
Shares of Hundsun jumped more than 10 percent to 23.62 yuan,
extending gains on Friday and outpacing a 0.6 percent gain for
the broader index.
China's markets were closed on Monday for a holiday.
(Reporting by Alice Woodhouse; Editing by Anne Marie Roantree
and Edwina Gibbs)