Why Alibaba, JD.com, and Other Chinese Stocks Rallied This Morning
Stocks of some of China's most popular companies were squarely in rally mode Monday, as the country's central bank signaled further support for the ongoing economic recovery.
With that as a backdrop, several of China's e-commerce stocks outpaced gains by the broader market. Shares of Alibaba Group (NYSE: BABA) rose 1.1%, JD.com (NASDAQ: JD) climbed as much as 3%, and PDD Holdings (NASDAQ: PDD) surged as much as 3.6% as of 12:35 p.m. ET.
There wasn't any company-specific news driving the gains, but broader economic and regulatory developments were the catalysts that drove the stocks higher.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€72.90
3.400%
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 positive potential of 49.52% for Alibaba Group Holding Ltd ADR compared to the current price of 72.9 €.
