Reginal Thomas
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Haier Shares Highest They've Been In 14 Years After Alibaba Investment

Haier Electronics Group Co.'s share shot up to a 14 year high in Hong Kong markets after Alibaba Group Holding Ltd. announced it was investing $364 million in the Haier and its logistics business. Haier shares are up 13% to HK$21.05 in Hong Kong, the highest its been since July 1999. The stock has grown 86% this year. Alibaba, it working towards a IPO, is looking to bolster its delivery service and help create the kind of efficiency that UPS or FedEx has.