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Benzinga
Benzinga
Business
Henry Khederian

Why Alibaba Shares Are Rising Today

BABA Alibaba Ant Alibaba Group Holding Ltd Ant Group NYSE China

Alibaba Group Holding Ltd - ADR (NYSE:BABA) shares are trading higher by 10.30% to $111.90 following reports suggesting China's central bank has accepted Ant Group's financial holding company application.

Reuters Friday morning said- although Ant has been working with financial regulators for months on a broad revamp, the central bank's agreeing to review the application signals the company could get its long-awaited license soon.

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