Why Shares of Alibaba, JD.com, and Yatsen Are Rising Today

Shares of several Chinese stocks trading on U.S. exchanges moved higher today after the large Chinese e-commerce platform Alibaba (NYSE: BABA) reported solid earnings results for the quarter ending June 30.

Shares of Alibaba were trading roughly 3.5% higher at 10:04 a.m. ET today. Shares of another large Chinese e-commerce company, JD.com (NASDAQ: JD), were trading 5.4% higher, and shares of the Chinese beauty company Yatsen (NYSE: YSG) were trading more than 7% higher.

Alibaba reported diluted earnings per share equivalent to $0.16 for the quarter on total revenue equivalent to $30.7 billion, both numbers that beat expectations.

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Source Fool.com