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Benzinga
Benzinga
Business
Madhukumar Warrier

Why Alibaba Is Rising Today Even As Tech Peers Extend Losses In Hong Kong

Li BABA Hong Kong Alibaba NYSE Alibaba Group Holding Limited United States U.S.-listed Hang Seng Index

Shares of U.S.-listed Chinese tech companies — with the exception of Alibaba Group Holding Limited (NYSE:BABA) — extended losses in Hong Kong on Friday, dragging the benchmark Hang Seng Index into negative territory for a second straight day.

Why Is It Moving? The Hang Seng Index was down 0.9% at the time of writing, as investors turned risk averse after by the U.S. Federal Reserve indicated on Wednesday that it could start raising interest rates as soon as March.

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