Employee walks past Alibaba sign
Media playback is unsupported on your device

Alibaba deals a blow to Hong Kong Stock Exchange

26 September 2013 Last updated at 09:18 BST

China's biggest e-commerce company, Alibaba, is expected to hold one of the year's biggest stock offerings - but it won't be in Asia.

The company now plans to list in New York instead of Hong Kong after talks reportedly broke down with the city's stock exchange and regulators.

Some analysts estimate that the IPO could be as large as $70bn (£44bn).

Juliana Liu reports on what would be a major blow to Hong Kong in its race to be the fundraising capital of the world.

Watch more reports on Asia Business Report's website.