AsianFin--Alibaba Group Holding Ltd. saw its shares rise significantly, marking the largest increase in two months, following the announcement of a new service fee structure aimed at merchants.

The stock surged by as much as 5.8% in Hong Kong after news broke that Alibaba will implement a basic software service fee of 0.6% on confirmed transactions for vendors on both its Tmall and Taobao platforms.

This policy update was communicated to merchants on Friday, according to an insider. However, it is reported that Alibaba may exempt small merchants from this new fee.