Alibaba (BABA) Amongst US Listed Chinese Stocks That Have Seen Major Gains
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Summary:
- US listed Chinese Stocks are going on their third day of price gains
Alibaba stock prices are jumping
US listed Chinese Stocks are going on their third day of price gains. The recent wave of video game batch approvals, offering hope for Chinese tech stocks. This move from Chinese regulators shows a step in the direction of a softening stance towards internet firms.
The Alibaba share price is up more than 10.5% as of Wednesday. The rise in stock price for Chinese tech stocks comes as a relief to the current market sentiment amidst US markets are gripped by the thought of higher interest rates. In addition, the easing of lockdowns in major cities in China mixed with a line of better-than-expected earnings results are also contributing to boosting investor risk sentiment.
BABA Price Chart
Sources: barrons.com, finance.yahoo.com, bloomberg.com
