Alibaba raised its share buyback program to $25 billion on Tuesday, the largest ever repurchase plan by the e-commerce giant, to prop up its battered shares as it fights off regulatory scrutiny and concerns about slowing growth.
Alibaba shares, which have more than halved in the past year, surged on the news and closed up 11 percent. Its U.S. listed stock rose 9 percent in premarket trading.
