you decide if it's bullish

$BABA-W (09988.HK)$
China's central bank cuts the banks' 5-Y Loan Prime Rate #LPR by 10 bps for the first time since April 2020, 1-Y also down 10 bps.
1-year LPR at 3.7% from 3.8%;
5-year LPR at 4.6% from 4.65%;
#PBOC cut policy loan rates and pledged more easing to stabilize the economy.