Chinese stocks, which as an asset class have been underperforming global markets for the last few years, sprung back to life last week after the country unleashed a flurry of stimulus to revive its economy. Alibaba (BABA) stock gained over 21% last week, and extended its YTD gains to 38%. BABA has hit a string of new 52-week highs, as investors load up on Chinese stocks, anticipating more stimulus measures from the world’s second-largest economy.
