Alibaba surges 38 percent on massive demand in market debut

Sep 19 2014 8:31PM EST | Source: REUTERS Technology

NEW YORK (Reuters) - Alibaba Group Holding Ltd's shares soared 38 percent in their first day of trading on Friday as investors jumped at the chance for a piece of what is likely to rank as the largest IPO in history, in a massive bet on China's burgeoning middle class.