China's Alibaba invests $350m in Turkey's Trendyol in capital increase

China's Alibaba invests $350m in Turkey's Trendyol in capital increase

Alibaba, Tencent and Taiwan Semiconductor Manufacturing Co. each joined the ranks of Asia's top 10 companies by quarterly net profit. (Nikkei montage/Photos by Reuters

Chinese internet giant Alibaba invested $350 million in Turkish e-commerce firm Trendyol in a capital increase, according to an entry in the country’s trade registry.