The Kuaishou app, which means ‘quick hands’, has more than 260 million daily active users on average in China and is the main rival to Douyin, the Chinese counterpart to Tiktok. – EPA pic, February 5, 2021. SHARES in Chinese video app company Kuaishou almost tripled on their Hong Kong debut today, following a US$5.4 billion (RM22 billion) initial public offering for the TikTok rival that was the biggest for an internet firm in nearly two years.Its outstanding debut comes despite a crackdown by China on tech firms in recent months and will be a sign of encouragement to TikTok owner ByteDance, which is said to be planning its own listing.
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