Why Shares of Alibaba, TAL Education Group, and Bilibili Are Rising Today
Chinese stocks continued to rally today after the Chinese government recently rolled out a large rescue plan for the country's struggling real estate industry. Another factor was President Joe Biden's meeting with China's President Xi Jinping.
Shares of the large Chinese e-commerce company Alibaba (NYSE: BABA) traded more than 10.5% higher as of 10:51 a.m. ET today. Shares of the online tutoring company TAL Education Group (NYSE: TAL) traded more than 11% higher, and shares of the video content company Bilibili (NASDAQ: BILI) were up close to 24%.
The week got off to a great start for Chinese stocks after Beijing unveiled a 16-point plan to try to help struggling developers in the country and get the housing market back on track.
Source Fool.com
