BILI - Why Alibaba Bilibili and Baozun Rose Today
2023-06-27 16:18:29 ET
After a difficult last week of trading, Chinese stocks are moving higher on renewed hopes that stimulus might be around the corner, as well as potential benefits from recent geopolitical events.
Shares of the Chinese tech and e-commerce conglomerate Alibaba Group (NYSE: BABA) rose nearly 2% today. Meanwhile, shares of the video-sharing platform Bilibili (NASDAQ: BILI) rose nearly 4% and shares of another e-commerce company, Baozun (NASDAQ: BZUN) , ended the day up roughly 1.5%.
Since China's central bank started cutting select benchmark interest rates a few weeks ago there has been wide debate over whether or not the Chinese government is going to follow through with stimulus measures in an effort to get the economy going.
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Why Alibaba, Bilibili, and Baozun Rose Today