(Bloomberg) -- Alibaba Group Holding Ltd.’s beaten-down shares have risen from the worst to the best on Hong Kong’s stock benchmark, as investors turn optimistic the toughest of China’s tech regulation may be over.

Shares jumped as much as 9.2% on Wednesday, extending this month’s rally to 27% to be the Hang Seng Index’s top performer. It is the second-largest contributor to the gauge’s gains during the period.



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