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BABA / US-listed Chinese stocks start the year strong as Alibaba affiliate Ant Group capital raise plan wins approval

US-listed Chinese stocks start the year strong as Alibaba affiliate Ant Group capital raise plan wins approval
US-listed shares of Chinese tech giant Alibaba Group (NYSE:BABA) Holding Limited closed out Wednesday about 13% higher on optimism that the Chinese government's crackdown on the internet sector has ended.  TickMill Group market analyst James Harte noted that the lift in bullish sentiment was in reaction to the news that Chinese regulators have approved a request by Ant Group, an affiliate company of Alibaba, to increase the registered capital for the company's consumer section to 18.5 billion yuan (about US$2.7 billion). Read More
Posted: Jan 5 2023, 09:34
Author Name: Proactive Investors
Views: 110831

BABA News  

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