Alibaba Stock Is Rising Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Alibaba Group Holding Ltd (NYSE:BABA) shares are trading higher after China's central bank cut the borrowing cost of its medium-term policy loans from 2.75% to 2.65%. The move aims to improve market confidence amid the country's sluggish post-pandemic recovery.
June 15, 2023 | 1:13 pm
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Alibaba's stock price is rising due to China's central bank cutting medium-term policy loan rates, aiming to improve market confidence.
The rate cut by China's central bank directly impacts Alibaba as it is a major Chinese company. The move is aimed at improving market confidence, which in turn positively affects Alibaba's stock price in the short term.
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