Why Alibaba, Baidu, and Other Chinese Stocks Rallied Tuesday Morning
Stocks of some of China's most widely held companies were firmly in rally mode Tuesday as the country's policymakers were considering moves to shore up its faltering stock market. Reports have emerged that the government may embark on a spending spree, scooping up stocks to buoy the market.
Several of China's biggest technology stocks far outpaced gains by the broader market Tuesday. Shares of Alibaba Group (NYSE: BABA) surged 6.9%, Baidu (NASDAQ: BIDU) jumped 6.7%, and JD.com (NASDAQ: JD) climbed as much as 6.2% as of 11:56 a.m. ET.
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Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€70.50
0.860%
The stock is one of the favorites of our community with 41 Buy predictions and 2 Sell predictions.
With a target price of 109 € there is a hugely positive potential of 54.61% for Alibaba Group Holding Ltd ADR compared to the current price of 70.5 €.
