Alibaba Stock News

The Chinese tech giant remains a polarizing investment.

The Chinese tech giant remains a polarizing investment.

Alibaba (BABA) stock is making a break for it in Wednesday''s premarket with BABA soaring by as much as 20% in early light trading. Chinese tech stocks

Alibaba (BABA), JD.com (JD) and a host of other Chinese tech stocks jumped on Wednesday after state run media said the Chinese government would stabilize its markets and support…

Futures Surge On Beijing Market Rescue, Ukraine Ceasefire Hopes As Fed Rate Hike Looms Normally, the first rate hike in more than four years meant to spark a "shallow" recession and destroy commodity demand would not be viewed positively by markets (unless it leads to another mega QE, which it will), but today is an exception with global stocks and US futures surging after the Kremlin hinted at progress in peace talks with Ukraine, adding to positive sentiment stoked by China’s vow to stabilize its battered markets which sent Hong Kong stocks soaring by the most on record. At 730am, S&P futures are up 1.3%, with Nasdaq futs +1.8% outperforming amid overnight tech action, influencing European sectors, on the back of China''s jawboning stocks higher and constructive commentary from Ukraine''s Zelensky and Russia''s Lavrov. European bourses are also firmer across the board, Euro Stoxx 50 +3.3%, after a firmer handover from the Asia session and on geopolitical optimism. Treasuries were steady and the dollar slipped ahead of the Federal Reserve rates decision.

Alibaba stock had dropped dramatically in recent weeks. Check out why I believe BABA (and many of its Chinese tech peers) could generate huge returns.

Beijing Capitulates: Chinese Stocks Soar, Hong Kong Markets Jump By Most Ever After China Vows To Prop Up Markets Yesterday, we had a feeling that China would finally do something to arrest the collapse in its local stocks… HK stocks will rip higher — zerohedge (@zerohedge) March 15, 2022 ... and little did we know that just a few hours later we would see the biggest surge in Hong Kong stock history, coupled with a furious surge in China''s CSI300. Two days after we said that JPM''s call that Chinese internet stock are uninvestable and that the bank''s wholesale downgrade of Chinese tech would mark the bottom... Wholesale capitulation. Time to buy pic.twitter.com/eS0xc7vtTD — zerohedge (@zerohedge) March 14, 2022 ... not even we had any idea what would happen last then 48 hours later, because after a brutal year for Chinese stocks, on Wednesday long-suffering China bulls finally got their long-awaited payday. The Wednesday session was looking like a tepid bounce off multi-year lows until the headlines started rolling from Beijing... that''s when everything exploded.

Alibaba Group Holding Ltd (NYSE: BABA ) and Tencent Holdings Ltd (OTC: TCEHY ) employees saw a job cut of 30%, the Print reports as per speculation on Weibo Corp (NASDAQ: WB ). Internal speculation among employees was that Alibaba looked to lay off 30% of its employees while Tencent between 10% - 30% of its employees. Tencent started layoffs within small business departments in September 2021. Alibaba''s community … Full story available on Benzinga.com

Chinese state-run news says the government will stabilize the stock market, which has endured a dramatic selloff, and boost economic growth.

Just last year, SoftBank was flying high, borrowing against its wildly lucrative stakes in tech investments such as Alibaba Group Holding Ltd. and plowing the money into the promising upstarts of tomorrow

The job cuts at the two companies would be their first major layoffs since Chinese regulators launched an unprecedented campaign a year-and-a-half ago to rein in its internet giants

By Julie Zhu, Yingzhi Yang and Yew Lun Tian

Alibaba Group and Tencent Holdings are preparing to cut tens of thousands of jobs combined this year in one of their biggest layoff rounds as the internet firms try to cope with China''s sweeping regulatory crackdown, sources said.

Chinese- and Hong Kong-listed stocks soared on Wednesday after China's government pledged to support beleaguered markets.