Asiatravel jumps as talk of Alibaba interest returns

SHARES in Asiatravel.com leapt more than 9 per cent yesterday as talk that China-based e-commerce giant Alibaba could be poised for a stake in the company made a return trip to the market.

The stock of the Singapore-listed travel booking portal hit an intraday high of 35.5 cents before settling with a three-cent gain at 35 cents. Some 7.34 million units changed hands.

Market rumours of a possible suitor for the Singapore company first started circulating about two weeks ago, sending the stock soaring to 38 cents. It subsequently pulled back in tandem with the meandering broader market over the past week.