- NYSE:BABA gained 6.81% during Tuesday’s trading session.
- Beijing could be done with its regulatory crackdowns as it shows support to domestic companies.
- Chinese ADR stocks trade higher led by BABA and EV maker Nio.
NYSE:BABA rebounded and erased most of its losses from Monday, as US investors look back to China as a potential investment market. On Tuesday, shares of BABA jumped higher by 6.81% and closed the trading session at $105.23. AliBaba has recently reclaimed its 50-day moving average but remains below its long-term key 200-day moving average price.
Stay up to speed with hot stocks' news!
Stocks were mostly mixed on Tuesday, as the S&P 500 dipped further into bear market territory ahead of Wednesday’s FOMC announcement on the next round of rate hikes. The Dow Jones fell by a further 151 basis points, the S&P 500 dipped by 0.38%, and the NASDAQ posted a gain of 0.18% during the session.
While interest rates continue to rise in the US and investors take a risk-off approach to investing, China is softening its financial conditions to accommodate a return from COVID-lockdowns. Beijing has also discussed acquiring a 1% position in major domestic companies to keep the best interest of the country in mind when these corporations make major decisions. In any case, the Chinese stocks that have been beaten down this past year, could look more appealing for US investors given the current fiscal environments.
BABA stock price
AliBaba wasn’t the only ADR stock on the rise on Tuesday. Shares of EV maker Nio (NYSE:NIO) soared higher by 16.63% after announcing a product launch event on Wednesday, June 15th. Other Chinese stocks trading higher included JD.Com (NASDAQ:JD), PinDuoDuo (NASDAQ:PDD), and Bilibili (NASDAQ:BILI) which were all up at least 6% during the session.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD bounces off lows, retests 1.1370
Following an early drop to the vicinity of 1.1310, EUR/USD now manages to regain pace and retargets the 1.1370-1.1380 band on the back of a tepid knee-jerk in the US Dollar, always amid growing optimism over a potential de-escalation in the US-China trade war.
GBP/USD trades slightly on the defensive in the low-1.3300s
GBP/USD remains under a mild selling pressure just above 1.3300 on Friday, despite firmer-than-expected UK Retail Sales. The pair is weighed down by a renewed buying interest in the Greenback, bolstered by fresh headlines suggesting a softening in the rhetoric surrounding the US-China trade conflict.
Gold remains offered below $3,300
Gold reversed Thursday’s rebound and slipped toward the $3,260 area per troy ounce at the end of the week in response to further improvement in the market sentiment, which was in turn underpinned by hopes of positive developments around the US-China trade crisis.
Ethereum: Accumulation addresses grab 1.11 million ETH as bullish momentum rises
Ethereum saw a 1% decline on Friday as sellers dominated exchange activity in the past 24 hours. Despite the recent selling, increased inflows into accumulation addresses and declining net taker volume show a gradual return of bullish momentum.
Week ahead: US GDP, inflation and jobs in focus amid tariff mess – BoJ meets
Barrage of US data to shed light on US economy as tariff war heats up. GDP, PCE inflation and nonfarm payrolls reports to headline the week. Bank of Japan to hold rates but may downgrade growth outlook. Eurozone and Australian CPI also on the agenda, Canadians go to the polls.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.