Why Chinese Tech Stocks Like Alibaba Crushed It on Monday
The start of a new trading week was quite the boon for established Chinese tech stocks. A respite -- perhaps even a reversal -- in the recent trade conflict with the U.S. resulted in a surge of bullishness for the sector, and a host of known titles saw encouraging price boosts.Among these were Alibaba Group (NYSE: BABA), which notched a nearly 6% gain on the day. The more specialized Tencent Holdings (OTC: TCEHY) and JD.com (NASDAQ: JD) didn't quite reach that height, but still enjoyed notable gains, rising by nearly 3% and almost 5%, respectively.Some of the most dramatic equity price movements in recent times have been related to the trade war, and that trend was in full effect on Monday.Continue reading
The start of a new trading week was quite the boon for established Chinese tech stocks. A respite -- perhaps even a reversal -- in the recent trade conflict with the U.S. resulted in a surge of bullishness for the sector, and a host of known titles saw encouraging price boosts.
Among these were Alibaba Group (NYSE: BABA), which notched a nearly 6% gain on the day. The more specialized Tencent Holdings (OTC: TCEHY) and JD.com (NASDAQ: JD) didn't quite reach that height, but still enjoyed notable gains, rising by nearly 3% and almost 5%, respectively.
Some of the most dramatic equity price movements in recent times have been related to the trade war, and that trend was in full effect on Monday.
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