Alibaba Becomes Key Holding in Chinese Fund Manager's Portfolio, Economic Measures Spark Interest in Leading Tech
Portfolio Pulse from Anusuya Lahiri
Chinese fund manager Zhang Kun has made Alibaba Group Holding a key part of his portfolio, driven by recent economic measures in China and Alibaba's strong stock performance. Zhang's E Fund Blue Chip Selected Mixed Fund now holds 9.1% in Alibaba shares, reflecting confidence in the tech giant ahead of its upcoming earnings report and Singles Day event.
October 28, 2024 | 3:57 pm
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Alibaba has become the second-largest holding in Zhang Kun's portfolio, driven by strong Q3 performance and upcoming earnings. Recent Chinese economic measures have also boosted investor confidence.
Zhang Kun's significant investment in Alibaba indicates strong confidence in the company's future performance, especially with the upcoming earnings report and Singles Day event. The recent economic measures in China, including stock support and liquidity boosts, have positively impacted Alibaba's stock price, which rose 56% in Hong Kong during Q3. This positions Alibaba favorably in the short term.
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