Alibaba's Chair Joe Tsai Expands Into Elite French Vineyards
Portfolio Pulse from Anusuya Lahiri
Alibaba's Chair Joe Tsai has expanded his investments into elite French vineyards, while Alibaba's stock sees a rise after entering China's Stock Connect. Morgan Stanley predicts a $12 billion fund unlock for Alibaba within six months.
September 10, 2024 | 12:25 pm
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Alibaba's stock is up nearly 3% after entering China's Stock Connect, potentially unlocking $12 billion in funds. This move comes amid a challenging year with regulatory issues and economic weakness.
Alibaba's entry into China's Stock Connect is a significant development, opening the stock to 200 million mainland investors. This is expected to unlock $12 billion in funds, providing a positive short-term impact on the stock price. Despite past challenges, this move signals potential growth and investor interest.
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