Chinese video app valued at $180bn on first day of trading in Hong Kong

Shares in the Chinese video app Kuaishou almost tripled on the first day of trading in Hong Kong, giving TikTok’s chief rival a market value of $180bn.

The debut of the short-form video site on Hong Kong’s stock exchange on Friday has been one of the most eagerly anticipated initial public offerings this year and raised $5.4bn (£4bn).

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