TCEHY - What's Going On With Alibaba Stock Thursday? | Benzinga
Alibaba Group Holding Limited (NYSE:BABA) led a rebound in Hong Kong stocks and ended a two-day decline, as the Federal Reserve’s openness to policy easing sparked optimism among traders who postponed their betting to May.
This positive shift in sentiment got a further boost from a private survey indicating that China’s manufacturing industry expanded for a third consecutive month in January. The broader market reflected this optimism, SCMP reports.
E-commerce companies and tech firms, including JD.com Inc (NASDAQ:JD), Meituan (OTC:MPNGF) (OTC:MPNGY), NetEase Inc (NASDAQ:NTES), and Tencent Holding Ltd (OTC:TCEHY), also recorded notable gains alongside Alibaba, contributing to the market’s overall positive performance.
Additionally, sectors outside of technology, such as the Chinese hotpot restaurant chain Haidilao and sportswear manufacturer Li Ning, saw substantial increases in their stock prices.
China is ...