Alibaba, JD.com lead strong rally in Chinese Internet stocks [Seeking Alpha]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Alibaba, JD.com lead strong rally in Chinese Internet stocksOct. 04, 2022 12:05 PM ETAlibaba Group Holding Limited (BABA)TCEHYBIDUNTESKWEBWBDIDIYBILIBy:Rex CrumSA News Editormaybefalse/iStock Unreleased via Getty ImagesChinese tech stocks rallied along with the broader market, Tuesday, as investors on the whole showed enthusiasm following the latest data on job openings and the labor market.Among leading Chinese tech companies, Alibaba (NYSE:) shares climbed 5.5%, Weibo () surged by 7.4%, Baidu (NASDAQ:) was up by more than 4%, JD.com () climbed by almost 7% and NetEase () shares rose 6%.Bilibili (Tencent Holdings (OTCPK:TCEHYOTCPK:DIDIYin order to finance buybacks of its own stockThe KraneShares CSI China Internet ETF (The market rallied as the Job Openings and Labor Turnover survey, also known as JOLTs, came in lower than expected for August, and alleviated some concerns abouta tightening of the U.S. labor market
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