Alibaba Group Holding Ltd (NYSE:BABA) shares are trading higher Tuesday amid increased optimism around Chinese stocks.
According to a Wall Street Journal report, China is set to conclude its yearlong regulatory probe into DiDi as soon as this week. China’s deteriorating economic outlook has reportedly pressured regulators to ease its antitrust campaigns.
JPMorgan analyst Marko Kolanovic noted this week that Chinese stocks could finally be ready to reverse course and head higher, according to a Bloomberg report. Kolanovic cited the reopening in China, continued growth support and easing regulatory crackdowns.
Related Link: JP Morgan Sees Buying Opportunities In Alibaba And Other Chinese Stocks Citing These Reasons
Alibaba operates China's online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer).
BABA Price Action: Alibaba shares have traded between $73.28 and $230.89 over a 52-week period.
The stock was up 5.01% at $103.99 at time of publication, according to data from Benzinga Pro.
Photo: courtesy of Alibaba.
