Chinese Stocks in US Rally on Sign That Policy Support May Come [BNN Bloomberg (Canada)]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
Last alibaba group holding limited american depositary shares each representing eight ordinary share earnings: 2/13 06:45 am
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Source: BNN Bloomberg
aid the property market, buoying hopes that Beijing may roll out policy stimulus to reinvigorate a faltering economic recovery. The exchange-traded KraneShares CSI China Internet Fund jumped 3.5% in the US premarket session. Among large-cap tech shares, Alibaba Group Holding Ltd. and Baidu Inc. gained more than 2% each. KE Holdings Inc., a platform that facilitates housing transactions, rallied as much as 7.7%. It's not just Chinese shares that have gained. In Europe, luxury goods makers such as LVMH and Hermes International rose across the board. The mining sector, which relied heavily on metals demand from China, also soared, pushing the Stoxx 600 Basic Resources Index up by the most in seven months. Bloomberg News reported Friday that China is planning to support its ailing housing market with new measures such as reducing down payment in some non-core neighborhoods of major cities, lowering agent commissions on transactions, and further relaxing restrictions for residential
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