KWEB - Alibaba's New Target: $480 By End-2021

• Asian markets cheered President Trump's prompt recovery from his coronavirus infection and his subsequent release from the hospital.
• Broadly positive travel and consumer spending data of the Chinese amid their Golden Week holiday and the steady China services activity index for September kept the positive momentum going.
• Alibaba's publicity in its support of numerous U.S. small and medium-sized businesses to go global could help somewhat in shielding itself from the attacks by the rising U.S. political rhetoric.
• A revisit of Alibaba's multiples over Amazon suggests investors could continue to derive greater returns from the former going forward.
• The current price uptrend of Alibaba which began in early 2019 is reminiscent of its trading pattern in 2015-2018. If it indeed pans out like in the past, Alibaba could reach for $400 in early 2021 and $480 by the end of the year.

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