Shares of Chinese companies, including Alibaba Group Holding Ltd - ADR (NYSE:BABA), are trading lower as investors assess the economic impact of a surge in COVID cases in China.
According to an SCMP report, Hong Kong will start easing social-distancing rules that have been in place for months from April 21, including an extension of dine-in hours for restaurants. It added that people would be permitted to take off their masks when visiting parks and exercising outdoors.
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Alibaba is the world's largest online and mobile commerce company as measured by gross merchandise volume.
According to data from Benzinga Pro, Alibaba is trading lower by 3.76% at $96.35. Alibaba has a 52-week high of $245.69 and a 52-week low of $73.28.
