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Benzinga
Benzinga
Business
Henry Khederian

Here's Why Alibaba And Bilibili Are Moving

Alibaba Bilibili ADR NYSE Alibaba Group Holding Ltd Bilibili Inc Nasdaq

Shares of Chinese companies, including Alibaba Group Holding Ltd - ADR (NYSE:BABA) and Bilibili Inc - ADR (NASDAQ:BILI) are trading higher. A recent buyback raise from Alibaba, quarterly earnings from Tencent Music Entertainment Group (NYSE:TME) and potential market stability measures from China's financial stability and development committee have lifted Chinese equity sentiment.

Alibaba shares are trading higher by 13.7% since the start of Tuesday's trading session after the company raised its buyback program from $15 billion to $25 billion.

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