Yahoo Finance Why Alibaba shares are higher today
Julie Hyman discusses the rally in Alibaba shares in early trading on Thursday, making it the top trending ticker on Yahoo Finance.
Video Transcript
JULIE HYMAN: I also want to just briefly touch on what we are seeing out of Chinese stocks today and, in particular, Alibaba, which caught my eye, because it is now the top trending ticker on the Yahoo Finance platform. We have been seeing a little bit of a bounce in these Chinese ADRs. Alibaba now up 6%. and going into today's session, I believe it was up about 3% off the lows. Listen, the stock is still down 38% year to date.
At some point, obviously, I don't know where that point is. At some point, investors are going to say that these Chinese stocks have priced in the outlook for China, both in terms of slowing economic growth and, perhaps more importantly, in terms of the regulatory environment there. I don't know where that place is. The stock has had feints to the upside before this year and then has pulled back again. But still, it is telling that it's-- that people are paying a lot of attention to today's move, in particular.
BRIAN SOZZI: Yeah, look, well, look what we've seen in the past few weeks, Julie, a lot of attention, obviously, on Evergrande. But we have seen-- we haven't seen the same type of negative news flow out of China on tech crackdown. That has seemed to have quiet for now. So I'm not, you know, it would make sense you would try to, you know, it would make sense you're seeing potential dip buyers step in here.
You know, you mentioned Baidu, I'm looking at NEtEase right now, another one of these Chinese internet stocks that were hammered during all that crackdown news over late in the summer or, really, in August and early part of September. Shares are up about 6% right now.
JULIE HYMAN: Yeah. So, I guess we're looking at an across the board kind of increase here.
