China Literature shares sizzle on Hong Kong debut

China Literature Ltd, the mainland's largest online publisher and e-book provider, made a stellar market debut in Hong Kong on Wednesday.

Price spikes came fast and furious for the Tencent-owned company, which doubled to HK$110 ($14.1) from the initial public offering price of HK$55 when the market opened for trading. The company's shares closed the first day of trading with an 86 percent increase at HK$102.

The Hang Seng Index remained flat at 28,907.6 points on Wednesday, after rising to a fresh 10-year high on Tuesday.