Alibaba Group Holdings, Inc (NYSE:BABA) was soaring over 11% higher on Wednesday, defying the S&P 500, which was trading about 1% lower.
The rally comes on investor hopes the Chinese government will continue to ease pressure on its tech companies increased after its National Press and Publication Administration approved 60 video games for computers and smartphones. The country may be easing its antitrust campaigns as an attempt to save its deteriorating economic outlook.
