Alibaba Group Holding Ltd - ADR (NYSE:BABA) shares are trading higher by 5.74% to $111.23. Shares of Chinese companies are trading higher during Thursday’s session after Chinese President Xi Jinping said China would adopt measures to reach its economic targets despite the impacts of COVID-19 measures.
Xinhua reported that in a keynote speech to a virtual BRICS Business Forum on Wednesday, Xi said the country will "strengthen macro-policy adjustment and adopt more effective measures to strive to meet the social and economic development targets for 2022 and minimize the impacts of COVID-19."... Read More
Alibaba shares are also likely rising after Bloomberg reported Jack Ma’s Ant Group is readying to apply for a key financial license as soon as this month. The move likely signals Ant Group's desire to continue to appease China’s financial regulators.
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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 has a 52-week high of $230.89 and a 52-week low of $73.28.
