Alibaba.com share sores 1-week high after Alipay progress

Shares of Alibaba.com Ltd (1688.HK), rose to a more than one-week high on Wednesday after Alibaba announced successful progress towards an agreement over the Alipay e-payment unit.

Alibaba Group China, Yahoo Inc USA (YHOO.O) and Softbank Corp Japan (9948.T) said on Wednesday that they had made "substantive and encouraging progress" toward an agreement over the Chinese company's Alipay e-payment unit.