Why Bilibili, JD.com, and Alibaba Were Surging Higher
Chinese stocks bounced back after days of declines as investors bet on China's pivot to support growth.
Shares of Alibaba (BABA 6.81%), JD.com (JD 6.08%), and Bilibili (BILI 9.88%) rose strongly Tuesday.
Like other risk assets, Chinese stocks sold off hard over the past few days. However, they have generally been faring better than U.S. tech stocks as of late. This is largely because they had already crashed last year amid Beijing's regulatory crackdown. However, with Chinese authorities signaling the end of that crackdown, investor optimism about the reopening of major Chinese cities from their latest pandemic-driven lockdowns, and an easier fiscal environment, Chinese stocks were back on the upswing Tuesday.
$Bilibili (BILI.US)$ $BILIBILI-W (09626.HK)$ $JD.com (JD.US)$ $JD-SW (09618.HK)$ $Alibaba (BABA.US)$ $BABA-W (09988.HK)$
Shares of Alibaba (BABA 6.81%), JD.com (JD 6.08%), and Bilibili (BILI 9.88%) rose strongly Tuesday.
Like other risk assets, Chinese stocks sold off hard over the past few days. However, they have generally been faring better than U.S. tech stocks as of late. This is largely because they had already crashed last year amid Beijing's regulatory crackdown. However, with Chinese authorities signaling the end of that crackdown, investor optimism about the reopening of major Chinese cities from their latest pandemic-driven lockdowns, and an easier fiscal environment, Chinese stocks were back on the upswing Tuesday.
$Bilibili (BILI.US)$ $BILIBILI-W (09626.HK)$ $JD.com (JD.US)$ $JD-SW (09618.HK)$ $Alibaba (BABA.US)$ $BABA-W (09988.HK)$
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