Alibaba has gained nearly 14% since its Hong Kong debut - CNN

Shares of the Chinese e-commerce company are now trading at 199.80 Hong Kong dollars ($25.52) each. That's slightly lower than Thursday's close, but still nearly 14% higher than what the shares were priced at when Alibaba first started trading in Hong Kong on Tuesday.

The public offering has been a big boost of confidence for the Asian financial hub, which has been rattled by months of protests. Alibaba's secondary listing could raise as much as $12.9 billion.

Elsewhere in the region, stocks slumped Friday. Hong Kong's benchmark Hang Seng Index (HSI) fell 1.7%, while South Korea's Kospi index (KOSPI) declined 1%.

China's Shanghai Composite (COMP) and Japan's Nikkei 225 (N225) were mostly flat, but in negative territory.

The Bank of Korea held interest rates steady on Friday at its last policy meeting of the year. It was in line with analyst estimates, according to financial data provider Refinitiv. The bank said in a statement that it will carefully monitor developments in the US-China trade talks and geopolitical risks while judging whether to adjust its monetary policies.

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